News
Insurers may be better off not separating non-traditional, non-insurance business, says top lawyer
Capital cost of restructuring may outweigh regulatory benefits under G-Sii proposals
Clearing in Europe won’t bite until 2015, banks expect
CFTC's Chilton says "continuing to kick the can down the road is just not acceptable", as expectations grow that Europe will miss 2014 start date
US Sifi process ‘stacked against insurers’ as Prudential Financial ends appeal
Decision 'unsurprising' say lawyers
Increased structured product sales reboot Asian dispersion market
Dispersion trades return to Asia but dealers say this time the risks involved are manageable
Shell unit seeks to register as swap dealer
Shell becomes second energy company to seek swap dealer status under Dodd-Frank
Lack of insurer management action plans exposes governance failings
Most European insurers do not hold Solvency II compliant documentation, finds survey
Econ chair Bowles calls for better ethics beyond banks
Accountants and lawyers also need to improve behavioural standards
Banks put ‘lazy’ assets to work in first initial margin agreements
Banks tout 'tremendous' capital savings as Bank of America, Barclays, Citi and other swap dealers start using illiquid assets as initial margin
Fears over FSB 'influence' on global insurance capital standard
Financial Stability Board did not ‘want to waste a good crisis’, claims Geneva Association chief
HMT bill could destroy UK structured deposits market
HMT bill could destroy UK structured deposits market
Asic hopeful of receiving substituted compliance from CFTC
Australian securities regulator positive about receiving US approval for the domestic regulatory regime
Ice bows to pressure on Brent contract changes
Exchange delays plan to shift expiry calendar for Brent crude oil futures and options after firms complain they need more time to prepare
Clearing of physical FX in China and India a concern, says GFXD’s Ngai
Global forex division managing director David Ngai warns of the challenges associated with centrally clearing physically delivered foreign exchange products
UK banks improving on sales incentives, says FCA's Wheatley
Three out of four major UK banks now link incentives to more than just sales, regulator says
Financial ombudsman: lack of trust behind rise in complaints
10% of consumers will take rejected complaints to the FOS
Cyber personnel lacking in major financial institutions, FBI agent warns
Serious attack will expose flaws in incident response programmes
Leverage and CCP capital proposals will hurt clearing – Risk.net poll
Four fifths of respondents to a new Risk.net poll think proposed changes to the leverage ratio and CCP capital rules will make it uneconomical to become a clearing member
Finra targets conflicts of interest in structured products industry
The US regulator has published a report saying issuers and sellers should be doing more to manage conflicts of interest that arise when deciding which products to sell and to whom
Another $100m fine for JP Morgan over London Whale market manipulation
Attempts to "defend" CDS positions broke the law, CFTC rules
Question marks surround Dalian iron ore futures contract ahead of launch
Although the market is excited about the new contract’s possibilities, uncertainties remain over physical delivery capabilities and liquidity levels
Credit Suisse extends ICPPI hedging platform
Swiss bank adds SunGard data service to reduce operational barriers for insurers
Yellen nominated for Federal Reserve chair, and other recent job moves
Changing hats – November 2013
L&G commits to UK retail market despite exit of structured products head
Declining sales figures blamed for the redundancy of Legal & General structured products head James Harrington, but it's 'business as usual', says the firm
Cooke joins HSBC as global head of operational risk
Moves from Barclays Wealth where he was CRO