News
HK regulator clarifies extraterritorial impact of OTC derivatives rules
A senior official at the Hong Kong securities watchdog says some exceptions are likely to be made to proposed new extraterritoriality rules on mandatory clearing and reporting OTC derivatives in Hong Kong
Eiopa to publish Pillar 3 and Orsa consultations as FSA warns of reporting ignorance
UK regulator's Raffle says non-executive directors do not understand the consequences of Solvency II reporting
Asia Risk Congress 2011: Solvency II hampering European insurers in Asia
Solvency II insurance rules have created an ‘unlevel playing field’ for risk-based capital structures in the Asia-Pacific region, with European insurers uncompetitive in some areas compared with Asian and north American peers
Hong Kong to start OTC derivatives clearing and reporting in January 2013 – HKMA's Lau
Hong Kong will “tentatively” introduce centralised clearing and reporting for OTC derivatives in January 2013, said Edmond Lau, HKMA executive director, at the Isda Asia-Pacific Conference 2011
Asia Risk Congress 2011: ‘Strong baseline supervision’ a domestic priority, says CBRC head
Chinese banking watchdog director-general Luo Ping says China should continue with its conservative regulatory approach, which insulated it against the worst effects of the global financial crisis
‘No way’ Asia can meet CCP deadline; probably the same for Europe
Panellists speaking at a derivatives industry event in Hong Kong believe Asia is unlikely to meet its obligations to have full mandatory clearing in 14 months – the deadline established in the 2009 G-20 agreement. They say a lack of regulatory clarity is…
Asia Risk Congress 2011: Offshore renminbi bonds held back by illiquidity in longer tenors
Investors and issuers remain concerned about China's capital account liberalisation programme, and their ability to hedge longer-term risk
FSA fines Credit Suisse £5.95 million for failings in Scarp sales
Credit Suisse "deeply regrets" the systems and controls failings in its sale of Scarps between 2007 and 2009
ECB threatens to stop trading swaps with US counterparties
ECB invokes US legal amendment providing it with broad immunities and says it might stop using US dealers unless granted exemptions from Dodd-Frank Act rules
Isda: Inconsistency among regulators worrying
Dodd-Frank's extraterritoriality and supervisory focus on market structure reforms that will not deliver systemic risk reduction are concerns, says Isda chair Stephen O’Connor
Evans appointed as director of risk consulting at KPMG
Paul Evans has left Soca to join KPMG as a director of its UK risk consulting practice
Energy firms need to gear up for Remit insider-trading rules, lawyers warn
As early as December, energy trading firms could be subject to a compliance regime for Europe's complex - and confusing - new insider-trading rules
Asian exchanges could attract more block trades via dark pool tie-ups, says Liquidnet
Liquidnet founder, Seth Merrin, believes Asian exchanges should think ‘bigger picture’ by focusing on reclaiming liquidity from institutional order flows by linking up with dark pools
BofE's Tucker: weak CCP recovery plans risk mayhem
Panellists at an EC conference in Brussels this morning warned CCPs have made little progress on detailed survival plans - leaving the system exposed
Mixed reaction to Mifid II's proposals to improve trading transparency
Firms say definition of "algorithmic trading" needs revising, while exchanges applaud new pre- and post-trade transparency framework for OTC derivatives
Industry calls for further clarity on Mifid II
The European Commission tabled proposals to revise the Markets in Financial Instruments Directive on October 20. But traders remain concerned about the implications of a one-size-fits-all approach to foreign exchange
CDS spreads in holding pattern as row delays eurozone deal
Spreads flat or slightly tighter despite political squabbling over size of EFSF
Fears of overreach in Mifid II and Mifir bond rules
Industry experts warn new Mifid and Mifir proposals might push business overseas
On the move
On the move
Fink: Billions could flow into preferreds as banks recapitalise
BlackRock chief calls for perpetual preferred shares to be counted towards Tier I capital at Europe's banks
US watchdog spots conflict of interest with Fed director roles
US Government Accountability Office identifies three examples where senior bank executives might have benefited from their positions on regional Federal Reserve boards
Turner warns of capital requirements dilemma
FSA chair Adair Turner insists on the consideration of counter-cyclical macro-prudential policies in the run-up to regulatory structure overhaul
Dealers see danger in CFTC's $50m clearing capital limit
CFTC says 38 FCMs would be able to act as OTC clearing members under $50 million capital limit - but dealers fear it will weaken CCPs, and call for tough membership rules to redress the balance
iShares says ETFs backed by derivatives should be renamed
Call for new labels as Jack Reed, senator for Rhode Island, notes that ETFs have been labelled the "new weapons of mass destruction"