News
Pension funds urge US Congress to act fast on debt-ceiling deal
Pension funds and investment firms highlight inflation, interest rate and currency risks of US default in open letters to President Obama
Dealers struggle to develop metrics to spot prop trading
Banks considering a variety of measures to identify proprietary trading and so meet the requirements of the Volcker rule, but none is foolproof, say dealers
Robert Mundell: How to save the euro
Nobel laureate Robert Mundell says eurozone can be saved with three-pronged policy solution, ‘for the short run, intermediate run and long run’
Anshu Jain made co-chief executive at Deutsche Bank
Josef Ackermann to be replaced in 2012 by Deutsche's investment banking head and Risk lifetime achievement award winner
UK FSA fines Willis £6.9 million for anti-bribery failings
The FSA has fined insurance brokerage Willis £6.9 million for failures in its anti-bribery and corruption systems and controls relating to payments to overseas third parties
Esma consults on ETFs and Ucits structured products
Esma consults on ETFs and Ucits structured products
Lowrance charged with using investor funds for Ponzi scheme
Jeffrey Lowrance charged with using investor funds in a Ponzi scheme to fund start-up newspaper
Former chair of Taylor, Bean & Whitaker sentenced to 30 years
Lee Farkas, former chair of TBW, has been sentenced to 30 years and ordered to pay back $38.5 million
JP Morgan Securities charged with rigging municipal bonds
JPMS rigged at least 93 municipal bond reinvestment transactions in 31 states, SEC says
UK trio sentenced for phishing scam
Three men have been sentenced to a total of 13 years and six months for their part in a phishing scam that attempted to steal more than £1.3 million
Former Citigroup employee charged with fraud
Former vice-president of Citigroup's treasury finance department charged with bank fraud
RBS faces $100 million lawsuit in US
RBS being sued in the US by Highland Capital for $100 million
US power bodies call for clarity on Dodd-Frank “swap” definition
More guidance is needed from the CFTC on the definition of a swap, according to Ferc and other industry associations concerned about regulatory overlap
EC’s Capital Requirements Directive deemed “detrimental” to energy trading
The revised proposal for the Capital Requirements Directive (CRD) presented by the European Commission (EC) on July 20 has sparked serious concerns among energy companies, traders and exchanges
Greece’s second bail-out met with relief
Traders and strategists believe latest rescue package is a positive development, but expect further pain ahead as it is implemented
Morgan Stanley Tips bet 'made sense', dealers say
Big curve flattening bet attributed to Morgan Stanley was reasonable, traders say - one rival exited similar position just in time
Deborah Fuhr leaves BlackRock for another role within the industry
Research formerly conducted by Deborah Fuhr will now be undertaken by BlackRock's Investment Institute
Fed aims for summer Sifi regulations
Bernanke says Fed expects to issue proposed rules on Sifi oversight this summer; also 'on schedule' to implement Basel III
Offshore CNY deliverable forwards in Hong Kong to outgrow NDFs
Rising offshore renminbi interbank rates in Hong Kong have made its deliverable forwards market the cheapest forum compared with NDFs and onshore forwards for corporates to hedge, bankers say
EC's CRD IV says dealers can ignore portability risks
While Basel Committee deliberates, EC proposes 'value of zero' for contingent risks associated with clearing portability
BBVA is to add volatility sub-index to its Jim Rogers’ resources index to create structured products
BBVA is to add volatility sub-index to its Jim Rogers’ resources index to create structured products
Risk.net poll: Orderly restructuring most likely scenario for Greece
Almost half of poll respondents believe Greece will undergo an orderly restructuring in the short term, perhaps leading to a selective default
Merrill Lynch Wealth calls in Police to head EMEA
Amilcare Police has reappeared at Merrill Lynch Wealth Management, a little more than a year after parting company with HSBC, where he was head of equity derivatives sales and third-party distribution
Deutsche Bank launches db-X ETF platform in the US
Building on its success in the US ETP business, Deutsche Bank has listed its first five ETFs under the db-X brand