News
Lawyers question Eiopa’s powers to soft-launch Solvency II
Authority promises guidelines on early implementation of risk governance and Orsa rules, but some doubt remains
Risk awards 2013: Credit Suisse wins top house
Swiss bank recognised for reshaping its trading businesses in 2012, as Risk publishes its fourteenth annual awards
Japan: Initial margins on OTC clearing of forex swaps not desirable
Japan questions the current framework for clearing foreign exchange derivatives
Asia needs bigger voice in international financial rule-making
Regulators from Malaysia, Dubai and Australia call for more countries in the region to take a stronger role in shaping the global agenda
FX options clearing analysis in final stages
The GFMA's global forex division is understood to be close to completion of its analysis of five years of options trading data - a project that is intended to lead to a solution for options clearing
Huge RPI swaps move catches market flat-footed
Some dealers said to have suffered losses after surprise decision to leave RPI methodology unchanged
Long-term guarantees test specifications to be published on test launch day
Fears that delay in releasing specifications will lead to inaccurate results
Changing hats – February 2013
Changing hats – February 2013
People: Citi and RBS to cut 5,700 in investment banking
Citi and RBS to cut 5,700 in investment banking
iShares cements position as Blackrock snaps up Credit Suisse ETF business
Blackrock's acquisition of the exchange-traded funds operation will give iShares an even more dominant position in the European physical ETF industry
Multi-index underlyings: worth the extra risk?
Roughly 13% of the UK's retail structured products market consists of products based on more than one index. Many offer double-digit returns, but some providers say their higher risk levels are the opposite of what the structured products industry needs…
SEC’s director of enforcement to leave
Fifth senior employee to depart SEC following resignation of SEC's chair
Insurers welcome FSA concessions on mutual capital
But questions remain over cost and complexity of regulator's proposals
Banks told they will not benefit from LCR delay
National supervisors tell banks not to lower liquidity buffers, with market forces also pushing banks towards 100% compliance with measure
Global risks for 2013 outlined by World Economic Forum
Severe income disparity highlighted as top risk for 2013
MKP sells stake to Dyal and bolsters senior management team
Private equity fund Dyal Capital Partners has made its fifth hedge fund investment with the purchase of a minority stake in MKP, a hedge fund manager specialising in global macro and credit strategies.
Exits for two more Asia commodities heads
Gunnar Hoest, head of commodities, Asia, has left Deutsche Bank while Morgan Stanley's Harry Soh is set to retire, sources have confirmed
Barclays structured products maturing last year lean towards wealth preservation
A roundup of structured products that Barclays distributed via UK IFAs in 2012 reveals good returns were possible even in flat markets. Despite many underlyings experiencing a bear market, investors always got back at least their initial capital
RDR fees still not clear for clients, experts warn
Clients still in the dark about RDR fees despite January 1 deadline passing
Addition of equities and mortgage bonds to LCR sparks criticism
Liquidity rules 'ruined' as regulators perform U-turn on equities, and also allow banks to include mortgage securities
PRAs push back against potential EU rules on benchmarks
Price reporting agencies among the most vehement critics of potential EU rules on benchmark indexes
Chinese banks to emphasise fees over asset growth in the coming years – PwC
Basel III not the main challenge for China banks – instead interest liberalisation is their main focus
Low crude volatility to bolster spread trades, say analysts
Market participants expected to shy away from outright bets on crude oil as low volatility persists
Structured notes to surpass CDs this year, finds survey
A survey from Incapital finds that industry participants expect structured notes to overtake certificates of deposit in 2012