European Commission (EC)
Singapore bids to be Asian derivatives and clearing hub
Asian migration
Nabucco could be postponed to 2011
Future Western European gas supplies could be at risk, as the Nabucco pipeline, which is designed to relinquish the European Union’s dependence on Russian gas imports, maybe delayed until the start of 2011
Lufthansa wary of OTC regulations
Corporates across the globe have lobbied to ensure end-users are not subjected to new clearing requirements for derivatives. For Lufthansa’s treasury department in Frankfurt, ensuring it is able to continue to hedge its foreign exchange and interest rate…
Scor looks to Solvency II
Philippe Trainar, chief risk officer at Scor, talks to Alexander Campbell
Cesr recommends changes to Mifid revision
New pre-trade transparency requirements for MTFs and ETFs as Cesr moves to a rules-based approach
Central clearing a tricky fix for over-the-counter derivatives
Central clearing might solve some of the problems with over-the-counter derivatives, but it is by no means a straightforward solution, and could raise some additional problems
Cesr pushes electronic confirms for OTC market
European securities regulator suggests electronic confirmation could be mandatory
Industry remains divided over case for EU consolidated tape
EU proposals for fixing the market fragmentation that resulted from the implementation of MIFID has the industry concerned
QIS 5 specifications add complexity
Insurers face greater complexity under EC's final QIS 5 specifications
Interview: UK MP Jonathan Evans on financial regulation
Chair of All Party Group on Insurance and Financial Services says reorganisation of UK regulatory structure is welcome
Europe hikes capital rules, slashes banker bonuses
Legislation adopted by European Parliament requires banks hold up to four times more capital to protect against trading risk; half of bankers’ bonuses to be paid in contingent capital
Call for FSA to cut back on consultation documents
UK MP Jonathan Evans asks for a fresh, "simplified" approach on consultation, and fairer implementation of EU directives
Cesr studies MTFs in July amid Mifid revamp
MTFs and dark pools policy positions to be announced, Cesr urges industry participation in consultation
Delay of aviation EU ETS inclusion ‘unlikely’
Experts doubtful over a delay to aviation's entrance into the EU ETS due to the volcanic ash cloud, after Lufthansa CEO calls for delay until 2013
BIS position on OTC clearing eligibility at odds with EC
BIS top economist suggests all OTC derivatives could be standardised and sent to CCPs, but EC favours a more measured approach to determining clearing eligibility.
EC derivatives consultation stops short of detail on corporate exemptions
Long-awaited derivatives proposals focus on standards for central counterparties that clear OTC derivatives.
EC proposes tough shorting rules but stalls on CDS ban
Shorting shares and bonds could be restricted or even banned under new EC proposals, but naked credit default swaps are safe for now.
EC accelerates consultation on beefed-up short-selling proposals
Under pressure from member states, the EC expects to adopt new short-selling rules by September.
European derivatives draft to be published for consultation within days
EC derivatives legislation set to be far more detailed than US financial reform bills, and open to industry comment before final adoption.
European Parliament’s IAS 39 clearing eligibility proposal criticised by accountants
Accountants condemn a proposal to use IAS 39 as a means to determine whether a derivative has to be cleared through a central counterparty.
Dealers and legislators left disappointed by CPSS-Iosco recommendations
Proposals on risk management by CCPs should be more detailed, say participants
Risk roulette on eurozone scenarios
The European Union and International Monetary Fund agreed a €750 billion emergency loan package in early May, aimed at averting a sovereign default and wider crisis across the eurozone. Nonetheless, banks have been preparing for the worst, stress testing…
Third countries dominate AIFM negotiations
The question of how to deal with funds and managers based outside the European Union (EU) is proving the main dividing point in negotiations over the alternative investment fund managers (AIFM) directive.
Brussels calls for European ratings supervisor
European Commission proposes new body to oversee all credit ratings agencies operating in the European Union; security issuers must provide information to all agencies to boost competition