News
OpRisk North America: ‘Nasty’ new regulation threatens foreign banks in the US
The Foreign Account Tax Compliance Act expected to impact on the systems and operations both of US and foreign firms
OpRisk North America: Moving OTC trades onto CCPs will increase op risks
Moving OTC trades onto CCPs will increase op risks
OpRisk North America: US foreclosure crisis highlights boundary risks
US foreclosure crisis highlights boundary risks
JWG risk data survey shows firms slow to respond to regulation
Survey from London-based think tank shows firms not yet ready to meet the data challenge posed by new financial regulation
Proprietary code thieves sentenced in US
Former Société Générale trader Samarth Agrawal and former Goldman Sachs programmer Sergei Aleynikov have been sentenced
Sovereign debt managers criticise ban on naked CDSs
Sovereign debt managers criticise ban on naked credit default swaps
$10 million identity fraud ring smashed by US authorities
Schemes involved staff from 11 high-profile US banks
SFO under pressure over Kaupthing investigation
Two arrested amid investigation into Kaupthing collapse say raids were a publicity stunt
FSA denies CDO insider-trading crackdown
Regulator says investigations into certain market groups do not represent a CDO insider-trading initiative
UK FSA hits FX broker with £85,750 fine
Regulator says ActivTrades failed to properly segregate clients' funds from its own
UBS faces investigations over Libor manipulation
Has received subpoenas from several international authorities
SEC charges hedge fund managers with abusing client assets
New York SEC director says two managers “violated the most fundamental duties of an investment adviser"
Regulators may keep it simple for Sifi selection
Regulators may keep the rules simple for Sifi selection process
LCH.Clearnet confirms FX options clearing for 2011
Annual results confirm significant investment in developing clearing services for FX options
Soft commodities are 'a better story than metals and gold'
Known for their high volatility and extreme sensitivity to natural and geopolitical factors, soft commodities are nonetheless being added to the mix of structured products on offer
People moves
Equities team reshuffle at Morgan Stanley
UK-Netherlands electricity cable starts commercial operations
BritNed is the first electricity interconnector between the two countries and has a capacity of 1000MW which can flow in either direction depending on relative supply and demand.
Portuguese deficit, Irish stress tests weigh on CDS spreads
Spreads are jolted following Portuguese deficit revision, and expectations of a new round of bank recapitalisation in Ireland
BAML bumps up rates with Reynolds
Bank of America Merrill Lynch has hired Craig Reynolds as head of North American rates and made internal moves to beef up its rates business in Europe
UK Bribery Act guidance fails to clarify compliance issues
New guidance from the Ministry of Justice and the Serious Fraud Office helps in some areas but muddies the waters
Borrowers warned to not take refinancing risk lightly
With a debt maturity wall looming, issuers should not assume good access to markets today will still be available next year, said participants at a press conference in London
SocGen socially responsible ETN donates fees to charity
Société Générale's first London-listed note to track SRI companies also benefits charity by giving fees to the Teenage Cancer Trust
Triple threat to sovereign default-risk-free status
European policymakers and regulators are considering dramatic changes to the capital treatment for government bonds
Apra QIS shows operational risk capital to increase for insurance firms
Australian Prudential Regulation Authority says industry not ready to model for operational risk capital rules