News
Lords take Vickers to task over robustness of plans
Vickers faced fierce questioning on Independent Commission on Banking’s final report and recommendations; incentive for banks to cheat the system discussed
Citigroup settles CDO charges for $285 million
The SEC has ordered Citigroup to pay $285 million to settle charges relating to a short position taken against its own CDO investors
Asia-Pacific personal wealth growth soars ahead of US and Europe – Credit Suisse
The Asia-Pacific region has accounted for 54% of all new global wealth creation since 2010 and emerging markets are set to drive global wealth creation during the next five years, according to Credit Suisse's annual Global Wealth Report
FX Week Asia: Options clearing on hold, prime brokers confirm
Forex clearing will be restricted to non-deliverable forwards as US authorities discuss whether settlement risk can be properly managed for cleared forex options, according to speakers at the FX Week Asia conference in Singapore
FX Week Asia: Corporate hedgers rattled by volatility
Tumultuous foreign exchange market in September has left some hedging strategies in disarray and led to more timely exposure monitoring in one treasury department, say corporate treasurers speaking at FX Week Asia
A divided CFTC approves new commodities position limit rules
"The pursuit by industry of legitimate and appropriate risk management is now made unduly onerous," says CFTC commissioner Scott O'Malia
New Dow Jones blue-chip indexes to be used in structured products
Dow Jones Indexes launches Asia Dow and Europe Dow, which track 30 blue-chip companies in each region for use in ETFs and structured products
Nomura hires new structured lending head
Munish Varma joins from Deutsche Bank as global head of structured lending and special situations
G-20 affirms LEI mission as information industry demands more action
Data industry executives say national regulators must now champion the legal entity identifier project if risk management goals are to be met
FX Week Asia: World economy 'needs alternative reserve currency'
Chinese renminbi looks poised for reserve status, but still no consensus on when it will happen due to forces beyond "anyone's control", senior academic tells FX Week Asia conference in Singapore
iShares launches campaign to help ETP investors identify risks
BlackRock subsidiary takes action after last week's call for more transparency around exchange-traded products
Inflation estimate errors costing defined benefit sponsors £50 billion
Overestimated inflation projections could be costing UK defined benefit scheme sponsors more than £50 billion in unnecessary funding commitments, a corporate adviser warns
Derivatives industry seeks clarity over SEC market-wide circuit-breaker proposals
In an attempt to prevent a repeat of last year's ‘Flash Crash', the US Securities and Exchange Commission announced, on September 27, 2011, a review of proposals to revamp market-wide circuit breakers. Public comment is open until October 25 for new…
Emerging markets focus to boost NDFs despite clearing costs
Growth of non-deliverable forwards market will not be hit by impending clearing laws
CRD IV should reflect Emir exemptions, says Bowles
Chair of European Parliament's Econ committee believes CRD IV should mirror Emir corporate exemptions, but has not yet decided whether sovereign counterparties should enjoy the same benefit
Equity structured products head leaves RBS
Head of equity derivatives structuring in the Americas departing for personal reasons
Rajaratnam sentenced to 11 years for Galleon insider trading
Galleon insider trader Raj Rajaratnam has been given a record sentence in the US for insider trading
Korean banks face funding challenges due to eurozone debt crisis – RBS
Despite most Asian banks remaining insulated from the eurozone debt crisis, Korean banks are at greatest risk due to their reliance on high levels of external borrowing, according to RBS report. Meanwhile, the growth of the renminbi presents a liquidity…
Energy Risk Europe: Oil up $4/bbl for every 1% hike in China, India oil imports: report
New research provides evidence that a relationship exists between the demand for oil from China and India and Brent crude prices
Emir should include exchange-traded derivatives, says Gensler
CFTC chairman says European regulators should expand scope of Emir to include all derivatives, rather than OTC only
Energy Risk Europe: energy trading firms' technology not ready for new rules
Many energy trading firms have yet to begin getting the technological infrastructure in place to comply with new EU and US financial market regulations, say panellists
Energy Risk Europe: regulators need to differentiate between banks and non-banks
Regulators should be wary about applying financial market regulation to all end-users, warn panellists
Brics to cross-list equity derivatives via new alliance
A new ‘Brics exchanges alliance’ has been formed to allow investors to trade equity index derivatives of each participating exchange in local currencies. The move comes as Asian exchanges increasingly are establishing alliances to promote cross-border…
Basel Committee appoints Australian regulator as next secretary-general
The Basel Committee on Banking Supervision has appointed Wayne Byres as secretary-general, replacing Stefan Walter