News
Turmoil continues at UBS as Grubel steps down
Chief executive takes the fall for $2.3 billion rogue-trading losses
Greater focus on OTC derivatives op risk required in Asia – Celent
Market participants in Asia need to focus more on operational risks associated with their resurgent OTC derivatives trading volumes, especially as the market moves towards trade repositories and central counterparty clearing, according to a new report…
Structurers seek ways to tap Chinese growth as equities suffer
Structurers seek ways to tap Chinese growth as equities suffer
Marsh appoints new head of risk consultancy
Richard Waterer becomes head of Marsh Risk Consulting (MRC) in the UK and Ireland
SEC could sue Standard & Poor's over faulty CDO rating
The SEC may charge Standard & Poor's with breaking federal security laws in its rating of a 2007 CDO.
Carney to banks: stop blaming each other
Mark Carney, Bank of Canada governor, tells banks to stop accusing others of bad behaviour
Banks make structured products cutbacks in Australia
Departures from Bank of America Merrill Lynch, RBS and UBS come as retail structured products sales have failed to regain momentum following a collapse in volumes since the global financial crisis
Video: BBA says banks at risk of losing investors under ICB proposals
The capital requirements in the ICB report could make investment in financial institutions unattractive
Three members of family jailed for boiler-room fraud in UK
Three members of family jailed for boiler-room fraud in UK
SEC files subpoena enforcement action against Deloitte
SEC files subpoena enforcement action against Deloitte
US CFTC charges investment adviser with $3 million fraud
US CFTC charges investment adviser with $3 million fraud
Axa Rosenberg clients 'betrayed' by co-founder
Clients of Axa-Rosenberg lost $217 million because its co-founder concealed an error in one of its models, regulator says
Pimco said to be behind OTC clearing spike at CME
Interest rate swap clearing volumes at CME leapt 2,172% between August and September, and dealers say one firm is responsible for the surge
SEC's Schapiro under fire in Madoff conflict case
SEC's former general counsel David Becker inherited $2 million account with Ponzi fraudster
Barclays launches volatility ETN in Japan
Barclays Bank has listed a volatility exchange-traded note linked to the S&P Vix Short-Term Futures Index on the Tokyo Stock Exchange
Video: BBA gives first, exclusive views on the ICB report
In an exclusive interview, the BBA discusses whether the ICB should have looked more closely at other separation models for its final report on financial stability in the UK
CCPs should be more transparent with margin models, say dealers
Dealers say CCPs need to be more transparent about how they calculate margin – including making their models fully accessible
Credit risk boundary events to be a focus for regulators
The Basel Committee's Sigor group will spend time on credit risk-related operational risk loss events at its upcoming October meeting in Frankfurt
Efficacy of alpha strategies called into question
Alpha strategies may result in lower volatility but they do not necessarily provide higher returns, according to market participants
Video: What is the future for actively managed ETFs?
"What is the future for actively managed ETFs?" is the fifth question in a series of videos from Structured Products magazine that address the development of the market for exchange-traded funds
Prepare for further black swan events in FX, corporates told
Corporate treasurers should make sure their forex counterparties are properly prepared for the possibility of further black swan events in the foreign exchange markets, senior Lloyds banker tells ACT conference delegates in Manchester
Regulators seek to change operational risk methodology at October meeting
High-severity events such as the $2.3 billion rogue trading loss at UBS have highlighted the low levels of operational risk regulatory capital firms are holding
The Fed commitment letter process is alive and well, say Isda panellists
FSA's Bailey says the commitment letter process is better for firms than having the regulator "kicking over their books"
Chinese sovereign wealth funds should dump US stocks, report says
Chinese sovereign funds such as Safe Investment Company and CIC should consider dumping and even shorting US retail stocks during US economic downturns, if they want to adopt an integrated asset and liability management process when making investment…