News
Firms seen upping surveillance and self-reporting after Ferc fines
Ferc penalties against Barclays and other banks expected to bolster compliance with market manipulation rules
Bribery laws pose compliance challenge for energy firms
Oil and gas firms still face compliance challenge from anti-bribery laws, despite court judgement against Dodd-Frank disclosure rules
Libor scandal makes it tougher to hire forex traders
Banks are staffing up for a livelier foreign exchange forwards market, but taint of Libor rigging is limiting pool of new traders
'Opaque and arbitrary' systemic risk methodology frustrates insurers
Designated insurers could come off G-Sii list when revised in 2014
CME confronts swap future tax fears
Some users of the CME contract have avoided taking delivery of an OTC swap over fears it would be taxed as a loan
Insurers protect against Solvency II disqualification with transforming instruments
Aviva and Uniqa hybrids feature capital disqualification triggers
CFTC cross-border guidelines give US banks in Singapore swap trade booking quandary
Singapore dollar trade potentially hit by US person rule
FX could move to financial settlement under clearing pressure – GFXD’s Lam
Addressing the challenges of clearing deliverable foreign exchange products, Mandy Lam of the Global Financial Markets Association suggests more products could become financially settled in the future
Russell Investments creates global director of responsible investment
Russell Investments with $173 billion AUM has named a director of responsible investment to oversee global promotion of sustainable work practices. KB Associates names new senior consultant
VAR models need overhaul to apply CVA proxy rules, says EBA
EBA surprises industry with eleventh-hour guidance that spread simulations – not just initial levels – should account for rating, region and sector
Esma approves more MoUs before July AIFMD deadline
The EU regulator has approved a slew of memorandums of understanding with seven more global regulators, paving the way for continued marketing of hedge funds inside and outside Europe
Strong performance and inflows push global hedge fund AUM to record $2.41 trillion
Positive hedge fund performance and more net inflows from investors boost assets under management to an all-time high of $2.41 trillion, according to Hedge Fund Research data
Hedge fund managers not ready for AIFMD
Two-fifths of hedge fund managers are waiting for the finalisation of EU regulations before taking action to become compliant, according to a survey by Preqin on implementation of AIFMD
BlueBay Asset Management names head of credit strategy
BlueBay appoints head of credit strategy. Goldman veteran joins Citi’s prime brokerage while Guggenheim Fund Solutions appoints head of hedge fund solutions for Europe
Asian insurers abandoning liability matching in the hunt for yield
Ultra-low rates forcing companies to shift focus from asset-liability matching
Quant Congress USA: Derivatives have had negative social utility, says Dupire
Dealers have sold products their clients did not need, says top quant – and industry must refocus on legitimate risk transfer
Market conditions point to uneven global recovery, says Treasury official
Speaking at FX Week USA conference, Daleep Singh acknowledges the improvement in economic conditions in the US but calls for a more balanced global recovery
Rising costs and staff losses underline SFO's need for a Libor scalp
Annual report shows case costs rising and convictions falling in Green's first year
CFTC names head of whistleblower office
Ehrman joins from SEC enforcement division
Bar on bank participation to stymie China Treasury bond futures market relaunch
Despite banks holding an overwhelming majority of the domestic bond market they are barred from participation in futures trading
First Indonesian sovereign bond ETF to boost liquidity in onshore bond market
Fixed income ETF launched at a time of volatility in the Indonesian domestic market
Basel Committee has work cut out on interest rate risk charge
Basel Committee taskforce starts work to develop a Pillar I charge for interest rate risk in the banking book, but some bankers and former regulators say the challenges will be too great
Large exchanges fear impact of cyber attack, Iosco survey finds
Less than 50% are confident they could survive a large-scale attack
Fatca delay blamed on push for IGA
FFIs dealing with yet another delay in Fatca