News
IETA concern over set-aside implementation
The International Emissions Trading Association believes market credibility in the European Union Emissions Trading Scheme could come under threat if a set-aside scheme is implemented
NAIC chief optimistic on US equivalence with Solvency II
Work plan being developed with NAIC as European regulators seek 'different approach' to equivalence
CDS market holds breath as Greek bail-out talks continue
Spreads are static and volumes light as EU finance ministers and the Greek government try to reach agreement over bail-out terms
Ex-Goldman Sachs programmer freed
Appeal court overturns conviction for code theft
Singapore’s FX exemption welcomed as a sign of global consistency
A proposal by the Monetary Authority of Singapore to exempt forex swaps and forwards from mandatory clearing is seen as a positive move to harmonise treatment of foreign exchange with the US
Fast-starting Esma will still run out of time, critics say
Esma has published a discussion paper on new clearing rules just five days after the high-level text was agreed - but a quick start and a three-month deadline extension might not be enough
CCPs fear prescriptive Esma standards on margin and risk
Esma could take key risk management decisions out of the hands of CCPs, according to new discussion paper on the technical standards required by European clearing rules
New anti-money laundering recommendations 'will prompt weaker countries to clean up corruption'
Tax crimes to be punished by same laws as AML
Cole to leave UK FSA
Managing director's departure comes before regulatory overhaul
Deloitte appoints three experts to banking and securities team
Big Four firm names new head of regulatory practice and two directors
Zoellick to leave World Bank
President will step down at end of current term
Walter joins Ernst & Young
Former Basel Committee secretary-general returns to New York in regulatory consulting role
Japan FSA tightens fund rules to protect retail investors
Japanese regulator implements new rules to increase transparency of complex fund products such as double-deckers
Chan and Bakshi step in as Lee leaves Deutsche’s Asia structured products team
Susan Chan and Neha Bakshi take over structured products structuring and sales at Deutsche Bank in Asia following Chris Lee's departure
Europe has got it wrong on hedge fund capital charge – BlackRock
Capital charge should better reflect real risk of underlying assets, says asset manager, as survey finds insurers are looking to increase exposure to alternative assets
Harcourt appoints van Houten as head of risk
CRO of Swiss investment firm to leave in May
High sales prompt Finra to investigate certificates of deposit
After mass investor flight to the perceived safety of certificates of deposit, US regulator Finra plans to investigate quite how safe the investments are, especially those that include a derivative component
CFTC requests 50% increase in funding for 2013
White House resurrects idea of funding CFTC through fees paid by regulated firms
Clemons to head iShares EMEA capital markets
Blackrock subsidiary iShares has created the role of head of EMEA capital markets in anticipation of growth in European exchange-traded products
Nasdaq proposes new rules to challenge NYSE ETP dominance
Nasdaq is attempting to be a more competitive player in the exchange-traded products market by proposing new listing rules based on those of the New York Stock Exchange
Deposit-based structures dominate UK issuance as risk appetite shrinks
Investors are less likely to opt for exotic structures and underlying assets, UK distributors warn
Closing price uncertainty hits traders on Hong Kong Stock Exchange
Use of median calculated price and restrictions of trading capacity are causing problems for participants on the Hong Kong Stock Exchange
Basel DVA capital deduction could cost banks billions
Billions of dollars in capital could be excluded under Basel proposals on derivatives DVA - with US banks hardest hit
Latest turnover figures tell positive story for FX, say committee members
Steady volume rises in US and UK indicative of healthy state of foreign exchange markets