News
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
Isda AGM: Big regulators hike pressure on small countries, panellists say
Initial margin requirements could increase liquidity strain on firms in smaller markets
Isda AGM: Clearing will magnify European FTT, warns UniCredit’s Lim
Planned one-basis-point charge will be levied multiple times in cleared trades – and could “kill the market”
CFTC commissioner seeks more time for penalty cases
Bart Chilton to ask Congress for extension of current five-year statute of limitations
Next FASB chairman to be Golden
Technical specialist will take over in July
Isda AGM: Uncleared margin rules create dangerous distortions, say panellists
New margin rules for uncleared derivatives will distort behaviour and increase systemic risk, panellists say
Hedge fund valuation practices under scrutiny
Under pressure from regulators and investors, hedge funds are establishing robust pricing policies for hard-to-value assets.Rubber stamping the manager's pricing model is no longer acceptable
Isda AGM: OTC trade reporting system in danger of fragmentation
The large number of trade repositories planned globally will reduce the quality of data, panellists warn
Isda AGM: Risk and Isda launch new derivatives research award
First OTC derivatives research award will be given in February 2014
Isda AGM: Closer international co-ordination needed, says MAS’s Ng
The potential for conflicting regulations could hamper cross-border trades, warns MAS official
Isda AGM: Template for standardised interest rate swaps launched
Isda and Sifma jointly unveil market-agreed coupon standardised interest rate swaps
Canellos and Ceresney named co-directors of SEC enforcement division
Pair replace previous director Robert Khuzami
‘Prescriptive’ ComFrame criticised by American insurance industry
Fears that global cooperation and coordination initiative is evolving into strict regulatory regime
Tough stance on insider trading at hedge funds getting results
David Kirk, the UK Financial Conduct Authority’s chief criminal counsel, says "dubious trading activity" has fallen by 50% in three years as FCA vows to continue crackdown on hedge fund traders
US warns EU over financial transaction tax
The US will not allow the EU financial transaction tax to happen, according to the head of US Chamber of Commerce Thomas Donohue. Co-ordination between G-20 countries on financial regulation is needed
Isda AGM: Asia clearing houses to dominate, says survey
Many derivatives users in Asia expect to clear through local CCPs, creating the potential for liquidity fragmentation and higher costs
CFTC’s Gensler defends long arm of Dodd-Frank
CFTC chair says "it is critical" that US rules apply overseas, in article for Banque de France stability review
Higher capital not fines, says RBS Americas head of op risk
Higher capital requirements would incentivise banks to fix their problems more than fines, says Craig Spielmann at RBS
FCA sets thresholds for regulatory failure
Slip-ups resulting in more than £30m losses will merit investigation, UK regulator says
Finance ministers warn US on extraterritoriality
Letter to US Treasury secretary says OTC rules should be applied within national borders only. Signatories include French, German, UK finance ministers
Energy firms give mixed response to Dodd-Frank swap reporting delay
Dodd-Frank delay gets mixed response from energy firms
Standardised OTC swaps to launch within weeks
Isda-Sifma working group discussions continue but trueEX prepares to list OTC swaps with standard coupons and IMM dates