News
Insurers struggle with ‘ambiguous’ technical specifications for long-term guarantees exercise
Difficulty interpreting rules threatens usefulness of results to policy-makers
Thai equity derivatives market to double
Demand from corporate and private bank investors to drive growth in Thai structured product market
China introduces registration for hedge funds
Amendments to China's Securities Investment Funds Law, effective from June 2013, will for the first time recognise hedge funds. This could lead to the establishment of a Chinese hedge fund industry
Falling correlations signal better times for equity long/short hedge funds
Analysis from JP Morgan shows strong relationship between intra-stock correlation and equity long/short hedge fund returns
Coleman leaves New York Fed
Head of op risk leaves US regulator
New York Fed demands better management of FX risks
Greater use of capital and collateral to mitigate all risks relating to foreign exchange trading is crucial, warns head of financial market infrastructure at the New York Fed
Barclays appoints chief operations and technology officer
New role created by strategic review
Mooted VAR substitute cannot be back-tested, says top quant
Basel Committee should stick with VAR, argues Paul Embrechts of ETH Zürich
Lansdowne's Ruddock to depart; DE Shaw gains two
The latest appointments within hedge funds and funds of hedge funds as well as related service industries.
Commission's Van Hulle to be succeeded by procurement lawyer
European Commission confirms new head of insurance and pensions unit
SEC slammed for CDS cross-margin hurdle
CDS users face collateral hike because SEC rule means clearing members are not yet able to offer CDS cross-margining to their clients – but there are hopes of a last-minute exemption
Zombie firms are first Dodd-Frank major swap participants
Only registrants to date are MBIA and Cournot Financial Products – firms that have not traded derivatives since 2008
Bank capital models need more consistency: OCC's Pasch
Regulators planning follow-up to trading book study that revealed huge variation in modelled RWA numbers
De Larosière slams US protectionism and EU Solvency II rules
Former IMF and Banque de France chief Jacques de Larosière says the introduction of a swath of new regulations in Europe may jeopardise the continent’s growth
Matching adjustment ring-fencing provisions ‘a threat’ to mutual insurers
Provisions would prevent common funds structures and reduce diversification benefits, say insurers
Financial transaction tax could raise energy company hedging costs
FTT will increase hedging costs for energy companies and deter them from trading with financial counterparties, firms say
Korean regulator allows synthetic ETFs
Issuance of South Korean ETFs to remain largely from local managers despite changes to allow synthetic ETFs
Principal muscles into FoHF sector with Liongate stake
US asset manager Principal Global Investors acquires majority stake in FoHF manager as traditional distributors move into the struggling sector
Europe edges towards three-pronged CVA exemption
CRD IV set to exempt trades with corporates, sovereigns and pension funds
Newedge to offer OTC clearing in Asia
Broker seeks to broaden its Asia offering by adding OTC IRS clearing in Singapore
CFTC's Gensler: Industry is ready for March 11 clearing deadline
Preparations are "running very smoothly" says CFTC chairman, ahead of first clearing deadline
Prospectus Directive consultation: ‘Comprehensibility’ concerns top the agenda
Prospectuses for retail structured products should not be ‘legalistic’ or ‘overly mathematical’, says the UK Listings Authority, but can include payout formulae presented algebraically and examples to explain complex securities. It is perhaps no wonder…
Esma urged to flesh out trade reporting rules
The first mandatory reporting requirements in Europe could begin in July, but more detail is needed on how the system will work, market participants say
Goldman Sachs angling for retail wallets in latest deal
Bank partners with online platform to bring its structured products directly into the hands of independent advisers