News
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
Industry turns out for the Custody Risk European Awards 2012
The winners of the Custody Risk European Awards 2012 were unveiled at an awards ceremony in central London on November 20
Risk governance and reporting elements of Solvency II should be implemented early - Bernardino
Eiopa chairman says it is time to 'move on' with Solvency II as lack of certainty is threatening EU's credibility
Nomura to reboot Korea ELWs with Hong Kong product launch
Korean retail investors will be able to access Kospi 200 warrants without the barriers to entry that exist in the Korean market
Adoboli sentenced to seven years for $2.3 billion fraud
Ex-UBS trader convicted of fraud, but found not guilty of false accounting
Insurers begin 'cautious' re-risking of investment portfolios as yields slump
Third-quarter results show small increase in equity exposure and lower-grade corporates
Adoboli faces sentence for three years of fraud
Rogue trader guilty of fraud but not of false accounting
Adoboli guilty of fraud
Verdict returned on one of six charges - other verdicts expected later today
RMB controls stifling iron ore swap market participation in China
Inability to convert RMB is preventing more participation from Chinese end-users in the iron ore swaps market, according to an onshore metals derivatives player
Raft of changes could shrink Basel III liquidity buffers
Basel Committee estimates liquid asset shortfall could be cut by 14% if a menu of potential changes is adopted
Deutsche Bank makes switch to physical ETFs as investors shun synthetics
Deutsche Bank joins the trend for ETFs backed by real assets