News
Malaysian banks face 20% capital surcharge from Basel III internal model switch
Basel III sovereign cap creates internal model headache for Malaysian banks
People: Credit Suisse appoints Munich Re CRO
Guldimann takes new role at Credit Suisse as Munich Re's Oechslin arrives; Barclays hires Morzaria from JP Morgan; Min Park joins Standard Chartered; new European inflation trading head at Citi; Axe leaves LCH.Clearnet
Yen volatility drives record turnover, central bank surveys reveal
Volume was up across forex products in the UK and US in April 2013, with nearly $1 trillion traded daily in the US and more than $2.5 trillion in the UK
Most ETNs are overpriced, study claims
Research claims to show that market prices of most ETNs do not accurately reflect their risks and that the notes should trade at greater discounts
Death benefits in UK annuities 'should be eligible for revised Solvency II matching adjustment’
Products with five-year guarantee period should be deemed immaterial under Eiopa’s new criteria, say actuaries
Stenham CIO to focus on risk control
Stenham Asset Management hires managing director to allow CIO to focus on risk control. Bfinance expands fixed income asset investment research team. Man Group announces board changes
Emir flaws could see futures reporting delayed till 2015
Esma acknowledges industry concerns over delegated reporting provisions and confirms it is considering a one-year delay
Former SAC portfolio manager charged with insider trading
Further charges relating to insider trading at hedge fund SAC
FCA AML report raises concerns about money service business going underground
UK regulator's first annual AML report highlights risks of closing certain banking services
Hedge fund compliance to 'ratchet up' after SAC indictment for insider trading
Managers look internally after fellow fund indicted on insider trading charges
Digital Vega to add non-deliverable options to Medusa
NDOs in testing on Medusa platform as some market participants begin to consider alternatives to deliverable FX options that could be more easily cleared
Winners announced for Americas Awards 2013
Citadel, Blackstone AAM, Hildene and SkyBridge were among the big winners at the Hedge Funds Review Americas Awards 2013. Paloma Partners' Donald Sussman received the lifetime achievement award
FASB recognises OIS rate as hedge accounting benchmark
Rule change could see growth in swaps indexed to federal funds rate
Kroeker named as FASB vice-chairman
Former SEC chief accountant returns to regulation
New EU state aid guidance may force insurers to adjust capital structure
Lawyers split on whether subordinated debt will be made convertible by law
High-frequency trader fined $3.1 million for market manipulation
CFTC, CME and FCA fine Michael Coscia and Panther Energy Trading in first case of its kind
Iosco softens index approach on final benchmark principles
The structured products industry has welcomed Iosco's publication of benchmark principles that promote softer treatment for equity indexes
Bank physical commodity trading attacked in US Senate hearing
Physical trading by banks said to inflate commodity prices, increase systemic risk and threaten shortage of beer cans
Esma takes ‘pragmatic’ stance on Emir evasion
Esma seeks to apply Emir overseas only where EU-guaranteed financial entities trade under non-equivalent regimes – while corporates are given free rein
Australia mandates OTC clearing to ensure substituted compliance
Global regulatory agenda drives switch from market-based incentives to clearing
G-Sii proposals signal acceleration of plans for global capital standard
But concerns about disjointed global accounting standards
Asia slow to sign up to IGAs for Fatca implementation
US makes slow progress in signing up Asian states for Fatca IGAs
European power and gas liquidity hit by Mifid II fears
European energy traders say worries about the impact of Mifid II are chilling activity in longer-dated power and gas
Solvency II interim measures 'misaligned' and 'overly prescriptive' say insurers
Eiopa urged to rein in draft measures in responses to consultation