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German launch for Moody's RiskCalc
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FSA to probe hedge fund valuations
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PPF loses chief executive
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CAO directors fined
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IIF board express concerns over different time schedules for implementation
Different schedules for implementing the Basel Accord will present complex issues for firms operating on both sides of the Atlantic, according to the International Institute of Finance (IIF). The main problem for many firms will be operating under two…
Dealers move to tackle equity derivatives operational issues
Equity derivatives dealers are holding discussions on how to deal with operational issues facing their market, with 17 leading banks meeting at the London offices of UBS yesterday to discuss the matter. This was the first meeting of the Equity…
BPI winds down derivatives positions
Lodi’s Banca Popolare Italiana (BPI) has significantly wound down its derivatives positions and lowered its risk profile since September 2005, when it was in the middle of a failed take-over bid for Banca Antonveneta under previous chief executive…
CBOE has no plans for market depth product
The Chicago Board Options Exchange (CBOE) has denied it is working on an enhanced level of bid and offer prices (BBO) for the options market, despite reports from several industry sources that the exchange is actively considering launching just such a…
Fed governor urges comments for NPR
Susan Schmidt Bies, the governor of the US Federal Reserve, has stated the importance of companies’ comments on the NPR on US Basel II implementation, due to be released today. The final NPR is expected to be issued in the Federal Register after all the…
Eurex appoints new chief
Andreas Preuss was named chief executive of the international derivatives exchange Eurex after a meeting of the supervisory board at Deutsche Börse, which has a 50% stake in the exchange along with SWX Swiss Exchange.
Final report on compliance function at market intermediaries published
The technical committee (TC) of the International Organisation of Securities Commissions (Iosco) has published its final report on the compliance function at market intermediaries. The TC prepared this paper to set out a number of supplementary…
Swiss Finance hires former DrKW duo
Independent brokerage Swiss Finance has made two senior additions to its London office. Jason de Clerk has been hired to run the forwards desk, while Sultan Lone joins the firm to run its institutional sales team.
FSA head of risk review outlines Authority’s planned approach to implementation
Rosemary Hillary, head of risk review at the Financial Standards Authority (FSA) presented on the FSA's firm-specific implementation work in preparation for the Capital Requirements Directive (CRD). Hilary confirmed that the FSA is trying to put the…
American General restates derivatives by $41.5 million
American General Finance, the Indiana-based consumer loans specialist, has become the latest US company to restate its results because of mistakes in applying accounting rules. The company announced it would adjust income upwards by $41.5 million for the…
Mardig Haladjian
With more Islamic institutions looking for ratings, the general manager of the financial institutions group at Moody's in Cyprus explains how the agency rates these names versus conventional credits
GLG poaches Morgan Stanley's European strategy co-head
Ben Funnell has quit his position as co-head of European strategy in London to join GLG Partners as a fund manager. He will work on mixed-asset fund strategies alongside Noam Gottesman, a partner of the London-based hedge fund.
Temasek buys £2.3bn stake in Standard Chartered
Singaporean investment company Temasek Holdings has bought an 11.55% stake in Standard Chartered from the Tan Sri Khoo Teck Puat estate for around £2.3 billion. The move makes it the largest single shareholder in the London-based bank.
FSA publishes changes to handbook of rules
The FSA has published a handbook notice that details recent changes made by its board.
Langley quits Merrill Lynch to co-head corporate risk at BarCap
Barclays Capital has hired John Langley to join its London office in June as co-head of European corporate risk advisory. Langley is leaving Merrill Lynch, where he has worked for 11 years, most recently as head of the bank’s risk advisory group and co…