News
CFTC relaxes cross-border rules after commissioner backlash
Chairman Gensler is understood to have relented on ‘substituted compliance’ in order to pass the proposed guidance
UBS anticipates RDR and Esma regulations with mammoth ETF splurge
UBS lists 64 exchange-traded funds on the London Stock Exchange in a single day – the largest ever daily listing of these products in the UK
Deutsche snares JP Morgan’s Murray for clearing role
Senior hire is seen as a coup for Deutsche’s clearing business
Investors seek alternative forex hedges for euro crisis
Australian dollar, renminbi and CE3 currencies touted as alternative macro hedges for European debt woes
Flame software demonstrates new risks to data security
New software could be "parallel project" to US-linked Stuxnet attack
UBS poaches Edwards from RBS and Naylor from Deutsche to bolster equity derivatives
Shane Edwards is joining the UBS equity derivatives team in London. His appointment follows that of Roger Naylor, who was named global head of equity derivatives at the Swiss bank earlier this month
Lyxor launches 'smart' risk-allocation ETFs
Lyxor has entered the risk-control exchange-traded funds market with the listing of two alternatively weighted funds on NYSE Euronext
OpRisk Asia: Changes in bank culture can be measured, conference hears
There is no magic bullet for changing bank culture, but there some rudimentary measures that can be used to judge progress, claims MCB Bank op risk manager
OpRisk Asia: Losses due to card fraud growing, says Visa risk manager
Growth of e-commerce the reason behind rising losses – and regulators are concerned, says regional head of country risk management
Weather study finds that hedging improves firm value
Hedging programmes have a positive effect on a company’s share price and financial performance, according to a new academic study that examines the use of weather derivatives by US utilities
Libor manipulation lawsuits could cost banks ‘tens of billions’
Barclays' $450m settlement gives lawyers smoking gun evidence of attempts to tamper with benchmark rates
CFTC’s Chilton: Libor manipulation attempts ‘serious and significant’
CFTC orders Barclays to pay a $200 million penalty. Commissioner Bart Chilton says agency is "vigorously looking at individuals"
OpRisk Asia: Rogue traders exploiting ‘weaknesses’ in op risk controls
Operational risk managers need to be more proactive in confronting the trading floor, conference hears
OpRisk Asia: Adachi warns again on AMA inconsistencies
Bank of Japan director Mitsutoshi Adachi highlights the danger of variations in the use of risk models at OpRisk Asia conference
Insurers need to improve understanding of flood risk exposure – Swiss Re
Flooding in Thailand was 'wake-up call' to industry
BAML reshuffles European risk roles
Bank of America Merrill Lynch's European CRO to co-head counterparty credit in New York
Extraterritoriality remains a major issue, says FSA’s Lawton
Resolving issues around the extraterritorial application of derivatives regulation is a major outstanding issue that needs to be addressed, says FSA’s acting director of markets
Risk Japan: Bank of Japan concerned about wrong-way risk on banks’ cross-holdings
Helping banks by purchasing stock will create moral hazard, says Bank of Japan director-general
BIS calls for European banking union and urgent fiscal reform in developed nations
Urgent fiscal reform and genuine efforts to create a banking union in Europe are vital to breaking the viscous linkage between banking and sovereign stress, says BIS
Commodities see biggest falls since Lehman Brothers collapse
Global commodity markets could be signalling a severe downturn as indexes tracking the sector show the sharpest falls since late 2008
FSA requests responses on Ucis by June 27, leaving open the inclusion of delta 1 certificates
Banks must respond to the UK Financial Services Authority by Wednesday with feedback on new rules that will clamp down on the sale of unregulated collective investment schemes. Whether delta 1 products will be caught by the new rules is unclear
Fatca timeline in question with new Swiss-US deal
A new arrangement between the Swiss and US governments for Fatca compliance brings Fatca timelines into question, expert warns
Kroeker leaves SEC for private sector
US regulator's chief accountant will step down next month
Bank of England to post collateral in OTC derivatives trades
BoE thought to be the first major central bank to change policy on collateralisation as it seeks to reduce dealer funding charges