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Senior bankers swap seats at BNP
Jacques d'Estais, BNP Paribas' head of corporate and investment banking, has exchanged jobs with the head of asset management and services, Alain Papiasse.
SEC charges Stanford with $8 billion fraud
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SEC charges Stanford with fraud
The US Securities and Exchange Commission (SEC) has charged R Allen Stanford with orchestrating a fraud of a "shocking magnitude" via his asset management and broker-dealer advisory companies under the Stanford Group name.
Crunch time for Solvency II
The top European Union institutions are embroiled in trilateral negotiations in Brussels to agree on a draft text of the Solvency II insurance directive before the April 2 deadline.
US Treasury doubles aid to Fannie Mae and Freddie Mac
The US Treasury is investing another $200 billion in Fannie Mae and Freddie Mac, as part of a fresh effort to prevent a wave of foreclosures.
MBIA lances structured finance from municipal business
Monoline insurer MBIA has split itself into two, creating a new business focused solely on US public finance bond insurance while siphoning off its festering structured product commitments into a separate legal entity.
FSA names chief operating officer
Mark Norris has joined the UK Financial Services Authority as chief operating officer.
Pensions before dividends, UK regulator orders
The UK Pensions Regulator has warned companies they should not continue paying shareholder dividends at the expense of their pension schemes.
SGCIB reshuffles management team to integrate divisions
Société Générale Corporate and Investment Banking (SGCIB) has reorganised its management structure as part of a move to integrate its capital markets activities.
CDSs on Irish banks widen further
The cost of credit protection on Irish banks rose steeply this morning as the European Commission warned Ireland's budgetary deficit could widen to 9.5% of GDP by the end of 2009.
Steinberg leaves BNP Paribas
Todd Steinberg, New York-based head of equity and commodity derivatives for the Americas at BNP Paribas, has resigned from the bank.
Cesr releases review of Mifid supervision
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Pillars II and III stalled in global Basel II implementation
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US Wrap: JP Morgan furthers reverse convertible comeback
JP Morgan kicked off the week by launching 12 reverse convertible notes into the US market yesterday. The former favourite structure of the space appears to be making a comeback after market volatility suppressed volumes last year, as the product…
2008 worst year for hedge funds since records began
2008 was the worst year for hedge fund performance since data onalternative investment pools began to be tracked, with average returns of -17.08% across asset classes for the past year, a new report has revealed.
Eurex to launch commodity index futures in March
Eurex will be the first European exchange to offer trading in commodity index derivatives with the launch of four new contracts on March 30.
Deutsche Bank joins DME as clearing member
The Dubai Mercantile Exchange's membership committee has today approved Deutsche Bank as the 22nd clearing member of the exchange.
BarCap executes RGGI forward trade agreement
Barclays Capital today executed its first transactions on a forward trade agreement that includes provisions for US emissions allowances associated with the Regional Greenhouse Gas Initiative (RGGI), the first mandatory carbon cap-and-trade program in…
CFTC acts to shut out grain futures speculators
The US Commodity Futures Trading Commission (CFTC) has approved new rules designed to reduce distortions in the soft commodity futures markets caused by speculative activity.
Icap clears first ag swap through ICE
Interdealer broker Icap has executed the first ever cleared agricultural swap transaction through IntercontinentalExchange clearing house ICE Clear US. Regulatory approval for such transactions was granted by the CFTC in December last year.
Exposure to eastern Europe hurts German bank CDSs
The cost of credit protection on many European banks has risen on concern over their exposure to deteriorating economic conditions in eastern Europe.
Toronto trader charged over $21m market manipulation
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LCH.Clearnet to expand CDS clearing into eurozone
LCH.Clearnet plans to clear credit default swaps (CDS) in the eurozone by the end of the year, having already launched a CDS clearing service in the UK.
BoE stability chief calls for stress war games
Banks could be forced to carry out joint stress tests to model the knock-on effects of a single disturbance on the entire financial system, according to the Bank of England's head of financial market stability, Andrew Haldane.