News
SEC appoints chief information security officer
Todd Scharf made chief information security officer at the SEC
Edhec-Risk Institute appoints new board member
Tomas Franzén appointed chairman of international advisory board
German insurers' life guarantee reserves 'to double' in 2013 as low yields bite
Increased ZZR reserves 'threat to insurers' business model'
France warns on use of derivatives to evade new transaction tax
Tax adviser to the French finance minister tells Risk the country's authorities will act on "tax evasion through synthetic instruments" if necessary, as cash equity volumes fall
Value of multi-peril cat bonds challenged
Combining uncorrelated perils does not necessarily make bond more attractive and presents valuation challenges, say bankers
Regulators in Asia target shadow banking sector
Regulators in Asia are striving to strike balance between regulating the shadow banking sector and letting Asian financial intermediation develop
US should show more respect over Fatca – PBoC official
The unilateral approach taken by the US to combat tax evasion is not the right one, says senior figure at the People's Bank of China
Bank of Thailand: LCR horizon should be a maximum of seven days
Experience of the Asian financial crisis leads Bank of Thailand's deputy governor to question the LCR parameters
Lack of inflation clearing could hit LDI community
A different track
Hong Kong regulator cautious about CoCos
The HKMA is unconvinced about banks issuing contingent convertible instruments, according to Arthur Yuen, deputy chief executive of the HKMA
Schapiro resignation not linked to lawsuit, SEC says
SEC chair Mary Schapiro steps down a week after former inspector-general files $20 million lawsuit against the agency
UBS fined £29.7 million for controls failures resulting in Adoboli losses
The UK FSA fines UBS for failures in systems and controls leading up to Adoboli's $2.3 billion losses
JP Morgan deserved “a very severe penalty”, says Ferc chairman
Tougher enforcement stance is justified and paying dividends, claims Ferc chairman
Korea to start mandatory clearing in October 2013
Legislative hold-up means Korea OTC derivatives clearing will be delayed
Deutsche creates Fic division under Amrolia and Felson
Zar Amrolia and Wayne Felson have been appointed co-heads of a new fixed income and currencies division at Deutsche Bank
MAS grants temporary relief for energy market brokers over Ice energy futures
MAS confirms it is granting interdealer brokers temporary exemptions from registering as futures brokers
Free trade in Taiwan needed to prevent emergence of multiple offshore RMB curves
The creation of an offshore RMB market in Taiwan could result in a fracturing of liquidity and prevent the currency's further internationalisation
UBS rogue trader verdict 'leaves door open' for litigation
Verdict in trial of Kweku Adoboli may lead to litigation against UBS, legal expert warns
Margin for longer-dated uncleared FX would be unpopular, FSA official admits
While the idea behind a maturity threshold for forex collateral requirements makes sense to regulators, FSA speaker at FX Week Europe recognises the industry's opposition
Risk launches iPad app
Risk magazine app launched today, which can be downloaded from the Apple store
SEC management under fire again in $20m lawsuit
Former chief investigator sues US regulator for harassment and unfair dismissal
Total return swaps on iBoxx touted as alternative to corporate bond index ETFs
Exchange-traded funds that give exposure to corporate bond indexes could face competition from total return swaps on the indexes, say market participants
Firms shy away from public utilities despite CFTC relief
No-action letter not enough to convince counterparties to trade with public utilities
Uncleared FX not necessarily more risky, says BoE’s Cross
Proposed rules could result in relatively vanilla forex products attracting disproportionate margin and capital requirements, says BoE FX division head