News
Reform bill blocked in Senate despite dropping exchange trading
Republicans voted against debating financial reform again, despite the elimination of mandatory exchange trading from the bill.
Recording mobile calls creates compliance minefield for banks
The UK FSA seeks to require firms to record all relevant conversations made on mobile phones
Prime brokers move towards independent SAS 70 checks
Prime brokers have focused on bolstering asset security for clients after billions of dollars of client assets were caught up in the administration of Lehman Brothers International (Europe) (LBIE).
CBI: Quarter of UK power plants face closure
Independent business lobby group the Confederation of British Industry (CBI) has warned the latest draft of the European Union Directive for Industrial Emissions could force at least a quarter of the UK’s power plants to close, which would raise a major…
FIA recommends DMA risk management controls
A Futures Industry Association (FIA) report published yesterday aims to establish best practices in managing the risk surrounding direct access to exchanges.
CFTC pushes on with regulatory sweep
The US Commodity Futures Trading Commission (CFTC) moved to increase oversight of several unregulated energy contracts today, even though broader financial reform from Congress could negate the action.
Banks run eurozone crisis scenarios as Greece founders
With markets anticipating a Greek debt restructuring, bank traders and risk managers are preparing for a wider crisis that could drag in northern European countries, tip the euro into a tailspin or even threaten the eurozone’s integrity.