News
Adoboli court hears of UBS’s internal control failures
Internal risk management controls at UBS failed to detect Adoboli's actions, a court heard today
Structured product 'disguised' interest may be subject to higher taxes
Returns on more structured products could be subject to income tax rather than capital gains tax following a tightening of the law by the UK tax authority
Insurers 'must understand risk on non-traditional assets'
Modelling and regulatory impact of new asset classes must be considered in search for higher yield
CFTC offers last-minute Dodd-Frank relief
Agency eases compliance burden for commodity and energy firms
UBS’s CFO gives evidence in Adoboli trial
Tom Naratil says $2.3 billion losses "did not jeopardise the existence of the bank"
FSA forces UK banks to assume higher sovereign losses
Behind-the-scenes clampdown sets loss-given-default floor at 45% – and could make UK bonds less attractive
S&P Dow Jones Indices takes on high-dividend and low-volatility combination in industry first
S&P Dow Jones Indices has combined two of the year's biggest themes so far in its latest index, the S&P 500 Low Volatility High Dividend Index
Concerns raised over Basel settlement risk guidance as consultation closes
The revised guidance on managing settlement risk could distort the forex market if implemented inconsistently, but should ultimately lead to greater use of CLS, say market participants
Data challenges for cat risk ‘threatens standard formula usage’
Lack of data could force insurers with non-standard catastrophe risks to use internal model, warns Insurance Europe
CFTC’s clearing timeline prompts backloading "meltdown"
A re-reading of the CFTC's phase-in rules for central clearing is prompting alarm among buy- and sell-side firms
Scoach listings plummet as risk appetite rises
Figures from Swiss structured products platform show falls in listings between August and September reflect year-on-year trend
Dyson appointed deputy chief information officer at SEC
Dyson’s brief involves updating IT systems
EBA highlights shortfalls in Pillar III disclosure
A report issued this morning says many banks are failing to report market and credit risk adequately
Loh Boon Chye joins BAML to head Asia global markets
Ex-head of corporate and investment banking at Deutsche Bank Asia-Pacific switches to Bank of America Merrill Lynch
Banks recognise need for major culture shift, says FSA’s Turner
Chairman of the FSA uses annual Mansion House speech to highlight the issue of bank culture
Leveraged products see steep declines in Europe
Structured products and exchange-traded products that use leverage see outflows in Europe
Solvency II: Orsa disclosure 'could boost insurers' ratings'
Greater transparency could be beneficial, but care must be taken over what is disclosed, speakers say
FFIs facing legal conflict with Fatca compliance, experts warn
Jurisdictions with an intergovernmental agreement in place may find foreign financial institutions facing a legal conflict with Foreign Account Tax Compliance Act compliance
Insurers push for new way to recognise equivalence of Canada
Regime recognition mechanism proposal should be agreed in Omnibus II, says Standard Life's Porteous
Debut growth plan from Structured Investment Group tracks basket of global indexes
Structured Investment Group's first product is a six-year growth plan based on a basket of four indexes with Morgan Stanley as counterparty
Solvency II: Insurers and supervisors must work together to ensure consistency on model approvals
Insurance groups should ensure consistent approach to model applications across organisation, says chairman of Eiopa's internal model committee
Oil price reporting agencies' principles won't deter manipulation, say critics
International Organization of Securities Commissions principles for oil price reporting agencies fail to silence critics
Basel 2.5 behind JP Morgan’s CIO trading loss
Rehedging mechanism within the comprehensive risk measure allowed JP Morgan to reduce risk-weighted assets while increasing market risk, claim industry experts
Quant Congress Europe: FVA ends ‘Platonic price’, says Brigo
No going back from FVA, says Imperial College professor – and other speakers at the conference agreed