News
CFTC could force funds to break US or European law
The CFTC's broad definition of a US person could leave European hedge funds facing conflicting rules
Banks cut commodity VAR as regulatory reform bites
Basel capital rules and regulatory reform stymie risk appetite of major banks in commodities
Risk-based approach "remains the foundation" of bank capital, says Basel Committee's Byres
Risk-based capital creates right incentives for banks, according to head of Basel Committee secretariat - but critics claim supervisors are making models less risk-sensitive
China to widen RMB trading band again before end-2012
A speaker at FX Week Asia argued that further liberalisation of the RMB was on the cards in the near future
Rule changes make it harder for small firms to use CCPs - Risk.net poll
Esma's decision to make indirect clearing an optional service could leave smaller firms without clearing access, according to a poll of Risk.net readers
Solvency II could be dangerous for whole economy, expert warns
Axa CFO warns of the counter-cyclical tools in Solvency II
Solvency II delays have no impact on competition for niche insurance firms, expert says
Ferma forum hears that Solvency II delays will not affect competition
Adoboli trial explores complicity and culture at UBS
Testimony in rogue trading trial exposes slips in risk management
Risk management being complicated by regulation, expert tells forum
Risk managers are facing greater complexity because of regulation and other issues, Ferma is told
Changing hats - November 2012
Arrivals and departures in the operational risk and regulation businesses
CROs must bypass glass ceilings, forum hears
Ferma conference hears that CROs must try to get access to senior management
EU elections could derail Solvency II development, warn insurers
Solvency II must be completed this parliamentary term, insists Econ chair Sharon Bowles
CFTC still facing tough to-do list
Regulator has finalised 39 rules but 14 remain at proposal stage - including six that have been outstanding for more than 500 days
Adoboli allowed to suspend $1 billion loss, court hears
Kweku Adoboli had permission to suspend a loss of $1 billion, a London court heard today
Korea to miss OTC clearing deadline
It is ‘highly unlikely’ that Korea will meet the deadline to start clearing OTC derivatives by January 1, 2013 due to legislative delays, according to market participants
CFTC may alter stance on physical gas deals
Agency expected to respond to natural gas industry fears about Dodd-Frank swap definition
Risk reaches 25-year anniversary
In celebration of our 25th anniversary this year, Risk re-publishes a landmark article by Fischer Black, offering a critique of the Black-Scholes model
Industry unmoved by death of minor-currency Libor
The Wheatley Review calls for an end to Libor quoting in five currencies, but the number of trades affected is small – a good thing, because the available solutions are flawed, say market participants
Adoboli trial: UBS had three other unauthorised trading incidents
UBS found three other unauthorised trading incidents, a court heard today
On the move
On the move
JSCC reviews capital threshold for clearing membership
Japan’s central counterparty proposes a 20-fold lower capital threshold for membership for it to qualify as a recognised clearing house under US rules; it also started successfully clearing yen interest rate swaps as of last week
CCIL trade repository reporting to extend to all currencies
After the initial launch in July, CCIL moves to phase two in its trade repository build-out
Insurers welcome Eiopa’s review of capital charges on infrastructure and securitisations
Standard formula is too harsh and fails to reflect real risk of long-term finance, say insurers
FX Week Asia: Exemptions offer little solace for corporates
Corporate treasurers remain concerned about increased hedging costs as a result of new regulation, and expect banks to pass the costs on – despite exemptions for corporate hedging