News
JP Morgan agrees record $13 billion settlement with DoJ
Settlement resolves civil claims over residential mortgage-backed securities
Chinese securitisation market risks fragmentation under current dual framework
The existence of multiple rule books may deter issuers and investors in securitisation
Equity inflows boost ETF assets by 19% to hit record highs
Assets in exchange-traded funds reached an all-time high of $2.319 trillion in October, with three firms – iShares, State Street and Vanguard – accounting for 70% of the total
FX industry calls for changes to benchmark practices
Ongoing investigations into manipulation of forex benchmarks have led to calls for changes to the way the WM/Reuters exchange rates are used
Asian dealers 'disappointed' by CFTC clarification of footnote 513
CFTC makes clear swaps between non-US swap dealers and non-US clients will be caught by Dodd-Frank if they are arranged, negotiated or executed by US personnel
Swedish insurers to suffer capital hit as regulator approves rule changes
Calls to delay December implementation fall on deaf ears
Bloomberg, MarketAxess, Tradeweb not complying with Sef rules - Gensler
Sefs "have to come into compliance" with Dodd-Frank rules requiring platforms to provide impartial access, says CFTC chairman
Futures data will be useless to regulators without reporting delay, Esma warns
Esma responds to EC's 'intended rejection' of one-year postponement
Structured products benefiting from Dubai's safe-haven status in Middle East
Dubai's reputation as a regional safe haven, together with a relatively relaxed regulatory regime, is helping flows into the UAE
Insurers demand clarity on Omnibus II
Equivalence, credit risk adjustment and details on level 2 text urgently needed, say top insurance executives
European clearing mandate likely to start in 2015 – Risk.net poll
Clients aren’t expected to be subject to a clearing mandate until 2015, according to a Risk.net poll
Control weaknesses continue to plague banks
The primary concerns for operational risk managers in 2014 include data theft, index rigging and reputational risk, but many have one thing in common – weak internal controls
Volcker rule start date could be delayed
Final rule could provide blanket relief of up to 12 months, says source
RBS agrees to sell £175bn structured product portfolio to BNP Paribas
BNP Paribas wins bid to acquire the multi-billion-pound structured products portfolio put up for sale by Royal Bank of Scotland
Omnibus II agreement puts Solvency II back on track
More generous long-term guarantees package and long transitional period in deal
UK insurers dismiss risk of bulk annuity capacity crunch
Increased activity forecast for 2014, but rumoured supply overload unlikely
Sants quits Barclays after just 10 months in compliance role
Ex-regulator and head of compliance quits UK bank citing stress
Korean securities firms to compete with banks in OTC forex
Further liberalisation of Korea's capital markets gives securities firms a chance to expand
Mandatory clearing in Korea slated for June 2014
Korea confident of achieving recognition from Europe and is readying to apply for similar status from the US
Structured Products Europe: Disappointment over EC’s failure to adopt RDR
Belgian regulator would like to see the Retail Distribution Review's commission ban enacted across Europe
Italy follows Ireland in retaining AFS bond filter
Banca d'Italia proposes to allow its banks to ignore some government bond volatility
Barnier to attend crunch trilogue to see Solvency II negotiations ‘over the finish line'
Profound changes expected to long-term guarantees package
Bill Clinton says failure to reform OTC markets earlier was a "real mistake"
Speaking at Sifma AGM, former US president says OTC market should have been forced into collateralised regime before 2008 crisis
‘Complex’ definition eludes European regulators
Determining whether a structured product is "complex” – and therefore unsuitable for retail investors – continues to divide regulators in Europe