News
Operational risk possible cause of US equity nose-dive
Fat finger error mooted as possible cause for US market plunge
European banks count the cost of sovereign exposure
As Greek debt continues to fall, banks are assessing their vulnerability to the crisis spreading across Europe.
Iraq seals oil deal with Kurdistan
The Iraqi government has resolved the longstanding oil dispute with Kurdistan, signalling a short-term increase in oil exports, while the prospect for a petroleum law, which would detail revenue and expense allocations for foreign energy companies in…
Finra to gain regulatory power from NYSE Euronext
The Financial Industry Regulatory Authority is to take powers of market surveillance and regulation enforcement from NYSE Regulation.
Insurers face “death by 1,000 spreadsheets” under Solvency II
Overly prudent capital requirements and excessive red tape in the Solvency II directive will paralyse the European insurance industry and kill the mutual business model, according to the Association of Mutual Insurers and Insurance Cooperatives of Europe…
Investors dispute claims sovereign downgrades were hasty
Senior EU officials may have criticised the rating agencies for reacting too aggressively to Europe’s fiscal woes, but investors say the reverse is true and the agencies remain behind the curve.
Structured Products Americas: More mis-selling fines to follow, Finra warns
The US industry's own regulator says its mis-selling investigation may lead to more fines for US companies.
Structured Products Americas: Lat-Am structured products "set for boom"
The European debt crisis is making Latin America look relatively attractive, one regional trader says.
Duke Energy refuses to disclose cap-and-trade lobby spend
Shareholders have failed to force Duke Energy to detail its lobbying spend in support of the US Government’s carbon cap-and-trade plan.
US insurers taking up GRC in budget drive, says expert
Insurance firms are using GRC to cope with tight budgets and heavy compliance burdens
Spanish banks prepare for refinancing risk as CDSs blow out
Refinancing risk increases for Spanish banks as credit default swap (CDS) spreads widen dramatically for a third day running.
Bernanke rules out repeat of Scap stress tests
Last year's Scap stress tests for US banks were a one-off, the Fed chairman said today.
Aegon appoints new UK CRO
Garthwaite given role as new chief risk officer for insurer's UK arm
AIFM provision threatens to change the risk profile of depository banks
Article 17 of AIFM seeks to impose strict liability on depository banks that could have far-reaching ramifications for the industry
Rating agencies under scrutiny once more
Rapid downgrade of Greece prompts Barnier to call for an investigation into CRA practices.
BP’s Gulf of Mexico oil spill to affect EU shale gas projects
BP’s Gulf of Mexico oil spill will lead to approval and production delays in the European shale gas industry as governments crack down on environmental safety regulations.
EBF urges restraint on remuneration regulation to protect EU competition
An EBF report calls on EU governments to hold back on punitive reforms to banking bonuses because they may threaten the competitiveness of EU financial centres
US lending landscape still bleak, Fed finds
Credit supply and demand are both still shrinking, though there are signs of a recovery among larger banks and companies.
Fraud crackdown will boost carbon market credibility, say experts
Market experts say Europe-wide crackdown on carbon trading fraud will strengthen market credibility and lead to tighter regulation
Choppy seas for shipping’s carbon scheme accord
The EU has pledged to include shipping in the EU ETS by the end of 2011 if a global scheme hasn’t been agreed on. Some shipping experts believe this could cause chaos, finds Alex Davis