News
EU equivalence requirements set to hit trade with India
India has no plans to become an equivalent country under EU regulations on financial services. India’s decision is likely to foreshadow problems with other emerging countries trading with the EU
Banks fear loss of hedge accounting for CCP novations
Trades cleared voluntarily would not be protected by hedge accounting under IASB proposals
Standard formula’s treatment of long-term investments 'flawed'
Standard formula data sets and methodologies 'inappopriate' for securitised products and secured investments, warn experts
Merchant Capital structured product investors to pay up to £600 as Reyker takes over plan management
Merchant Capital structured products investors are due to be charged hefty fees at product maturity as custodian Reyker Securities takes over as plan manager.
Renminbi may never be fully liberalised, says GSAM’s O’Neill
As China relaxes controls on its currency, the yuan is set to become more widely used. However, government control is likely to be maintained. Full convertibility may never happen, says Jim O’Neill
Unprepared insurers delay South Africa's risk-based solvency regime
Third quantitative impact study and economic impact study to be launched later this year
US Orsa guidance insufficient, says expert
Compliance burden and thin guidance for US insurers a concern
Citi head of LNG origination departs
Rodney Malcolm replaced by Mike Curry, head of North American electricity sales
London Whale quant now working for Deutsche
Former top quant at JP Morgan's CIO, Patrick Hagan, now consulting on pricing models at Deutsche Bank
Isda AGM: Industry to address negative interest rates under CSA
Industry group will launch a best practice document confirming that negative interest rates apply under CSA
Isda AGM: Electronic trade confirms rising ahead of mandate
Survey finds more eligible OTC trades being confirmed electronically, and fewer trades left unconfirmed
Exchanges plan futures in response to RIN price surge
Exchanges plan futures in response to RIN price surge
EFG Private Bank hit by FCA’s first fine
Bank fined £4.2 million for failures in anti-money laundering controls
UK sees sharp rise in structured product complaints
Complaints about structured products were up by more than 1,500 in 2012 compared to the previous two years
FCA's Wheatley: structured products are “like spread bets on steroids”
UK regulator hits out at overly complex structured products
Evolution Markets opens Singapore coal desk
Hiemstra to lead new Asian office; EDF Trading hires power traders; Barclays loses head of commodity research; Vitol enters ag commodities; Davies leaves Trayport
Index roundup: Stoxx launches 3D printing index
Index roundup
Isda AGM: CCP ‘Armageddon’ could lead to sovereign default, warns HSBC exec
Single bank default could affect multiple CCPs, leading to crippling default contribution for existing members and a chain of bank failures
Isda AGM: Dealers fear US-EU reporting clash
Industry calls for common trade reporting rules
Isda AGM: ‘Overlapping and contradictory’ global regulation will hamper real economy
The cost of reducing systemic risk is too high for the real economy, says Isda deputy chief executive
Asia-based cat bond issuance unlikely
A catastrophe bond from an Asian-based issuer is unlikely in the near term due to the high cost relative to traditional reinsurance
Isda AGM: Banks to blame for regulatory fragmentation, says Basel Committee’s Coen
Bank lobbying has encouraged national supervisors to water down global standards, says deputy secretary-general of Basel Committee
Iosco issues regulatory “toolkit” for retail structured products
Complex retail structured products are the subject of the latest consultation report from the international body of securities regulators