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CESR confirms passports valid in non-Mifid states
Daily news headlines
Wait and see attitude prevails for Mifid firms
Daily news headlines
New price record for crude
Crude oil futures closed at a new record high Friday, driven by tight fundamentals and geopolitical tensions.
BoA starts retreat from investment banking
Bank of America is sacking 3,000 people, mostly from its investment banking arm, after chief executive Kenneth Lewis hinted the bank might be leaving the investment banking business.
New risk chiefs at Swiss Re and Allianz
Allianz's chief risk officer Raj Singh is moving to become chief risk officer at Swiss Re. His replacement is Thomas Wilson.
Santander names global solutions head
Santander Global Banking & Markets has named David Behan as global head of solutions, a newly created post. He reports to the bank's global treasurer, Jorge Maortua.
LiquidityHub opens with euro swaps
London-based electronic trading consortium LiquidityHub began offering euro interest rate swaps from 12 major dealers on October 22, slightly later than planned.
Record fine for BP over propane market scandal
The US Commodity and Futures Trading Commission (CFTC) has imposed a record $303 million penalty on BP for manipulating the North American propane gas market.
BP settles with CFTC
BP has agreed to pay a $303 million fine to the Commodity Futures Trading Commission (CFTC) and Department of Justice (DoJ) over alleged TET propane market manipulation in February 2004.
Earnings grow 14% for energy risk professionals
Energy risk management professionals enjoyed an average 14% rise in pay during 2006, according to a survey conducted by Risk Talent Associates, a risk management executive search firm.
Movie Gallery in credit event auction
Troubled US video store chain Movie Gallery has seen the price of its loan derivatives fixed at 91.5% following a credit event auction.
Kroszner: “Investors less informed than they originally thought”
Investors in structured credit assets, such as collateralised debt obligations, recently “realised they were much less informed than they originally thought”, according to US Federal Reserve governor Randall Kroszner.
Crisis could spread to equity and commercial property, Bank of England warns
The credit crisis has highlighted serious shortfalls in transparency and risk management among UK banks, and could still spread to affect the equity and commercial property markets, the Bank of England warned today.
Master conduit trio joined by Wachovia
Wachovia has joined Bank of America, Citi and JP Morgan in a plan aimed at restoring calm to the troubled structured investment vehicle (SIV) sector.
Lehman appoints new heads of equity and debt capital markets
Lehman Brothers has appointed David Erickson as global head of equity capital markets and Christopher Winchenbaugh as global head of debt capital markets, both newly created positions.
BNP and Grosvenor close first Italian property derivatives deal
BNP Paribas has closed the first Italian property derivatives deal with the UK property company Grosvenor.
CFTC pushes for greater oversight
The Commodities Futures Trading Commission (CFTC) has issued a report to Congress recommending that its oversight ability be expanded across electronic trading facilities known as Exempt Commercial Markets (ECMs), which include the electronic…