News
US securities regulator extends emergency short-selling order
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BarCap works to revive life insurance securitisation
For Barclays Capital, a recent £250 million ($495 million) securitisation of part of UK insurer Aegon Scottish Equitable’s life portfolio proves there’s life left in the life insurance securitisation market.
FSA makes insider dealing arrests
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2008 record year for UK bank fraud
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CEBS analyses Kerviel’s op risk impact
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UK Treasury proposes clearing solvency reforms
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SEC extends short-selling ban as hunt for rumour mongers intensifies
The US Securities and Exchange Commission (SEC) has extended its order prohibiting short-selling activity for another two weeks, as the regulator narrows its investigation into the source of market-manipulating rumours.
Iosco says regulators should monitor and inspect rating agencies
The International Organisation of Securities Commissions (Iosco) has recommended regulators monitor and inspect rating agencies to check whether they are following its code of conduct.
Henrard joins Dexia as head of interest rate modelling
Marc Henrard has joined Dexia Bank in Brussels as head of interest rate modelling. He will be in charge of researching, developing and implementing interest rate and inflation models.
Merrill raises yet more capital after Q2 losses
Merrill Lynch is selling $6.7 billion of collateralised debt obligations (CDOs), terminating hedges on CDOs and undertaking a $8.5 billion public stock offering to raise capital.
Crosby Report wary of more UK government intervention
In an interim report released today, Sir James Crosby, deputy chairman of the UK Financial Services Authority (FSA), warned against the government becoming more deeply involved in attempting to prop up the mortgage market.
Green Exchange to launch RGGI futures and options in August
The Green Exchange, an environmental exchange backed by New York Mercantile Exchange (Nymex), will launch futures and options contracts based on Regional Greenhouse Gas Initiative (RGGI) carbon allowances at the end of August.
US regulators face Congressional pressure for risk reform
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Statkraft signs €4.5 billion swap agreement
Energy company Statkraft has signed a €4.5 billion ($7.07 billion) deal with power and gas company E.ON that strengthens Statkraft’s position in the European renewable electricity market.
GFI expands in European Gas
Interdealer broker GFI has started broking Title Transfer Facility (TTF) on its EnergyMatch Europe electronic trading platform.
CFTC dismisses speculation speculation
The US Commodity Futures Trading Commission (CFTC) has found no evidence that speculation is responsible for the rise in crude oil prices, despite political pressure to curb the activities of hedge funds and other futures investors blamed for high fuel…
Ex-Lehman Bros CFO joins Credit Suisse
Erin Callan will join Credit Suisse as head of its global hedge funds business. She was chief financial officer at Lehman Brothers until she was removed from the role in June, several days before the bank revealed it had made a $2.8 billion loss in the…
Further monoline downgrades likely
Moody's has put the last two remaining 'legacy' monoline insurers to maintain a Aaa rating - Assured Guaranty and Financial Security Assurance (FSA) - on watch for a downgrade.
New York sues UBS for alleged auction rate securities fraud
UBS executives sold off $21 million in personal auction rate securities (ARS) holdings just days before the market ground to a halt, while continuing to market the securities to unwitting consumers, a New York State lawsuit has alleged.
SG speculates on credit
Société Générale has reported increased interest in unleveraged long credit trades based on the iTraxx Crossover Europe index.