European Commission (EC)
City of London lobbies Treasury to defend UK's influence in OTC derivatives
Expert paper calls on HMT to ensure EU legislation on clearing and reporting doesn't damage London's dominance or inhibit market activity in particular asset classes.
Credit derivatives
Credit special report
EC naked sovereign CDS rules met with relief by traders
Murky on transparency
Regulatory changes push OTC energy and commodities markets to Asia
The over-the-counter energy and commodities market is being pushed to Asia by fears over Western regulatory changes, says managing director of technology provider Trayport
US equivalence "impossible" in forseeable future - Allianz CRO
CRO says lack of market consistency will prevent regime being granted equivalent status under Solvency II - and this will lead to European companies being disadvantaged
Solvency II equivalency: time to end the phoney war
End the phoney war
Potential back-door route to Solvency II equivalence for US insurers
EC outlines potential route for US insurance regulatory regime being granted equivalent status to Solvency II
Data governance under the regulatory microscope
Consolidation process
EC looks to tackle unilateral approach to short selling
The EC’s new short-selling rules should reduce unco-ordinated action by national regulators, say dealers
EC finalises OTC rules, leaves key technical items to Esma
Corporate hedgers claim a victory, but details on clearing eligibility and thresholds to be tackled by new authority.
New clearing rules may make CDS prohibitively expensive, traders warn
Buy-side market participants are expecting increased operational costs when new regulation on central clearing of CDS contracts is implemented
Goodhart attacks new European supervisory structure
Academic labels three new watchdogs “a waste and a mistake”; former financial secretary Lord Myners scornful of Basel III
EDHEC-Risk slams France on commodity derivatives regulation
Influential risk management and analytics business school, the EDHEC-Risk Institute, has criticised France for its hardline approach to commodity derivatives market regulation on lack of evidence
MEPs win out on powers for new European supervisory bodies
Pan-European authorities will have the power to impose emergency measures and intervene with financial institutions, after parliamentarians gained ground in compromise agreement
Structured products
Special report
EC prepares new consultation on structured products
A widened scope
France to tighten commodity derivatives regulation
France has warned the European Commission that it will tighten its commodities derivatives regulation to prevent the risk of big swings in commodities prices
Spanish debt office in negotiations on credit support annex thresholds
Government agency looks to alleviate funding costs for bank counterparties in swaps transactions.
Aegon rescue aid contingent on VA hedging programme
EC makes variable annuity hedging a factor in Aegon bailout approval decision
Brokers establish own carbon trading risk tests
Carbon brokers establish their own checks for assessing counterparty risk, following European market authorities’ failure to react to a spate of carbon market fraud.
Payments providers split over Sepa end dates
Comments released by the European Commission show that European institutions and banking associations disagree over Sepa proposals to seperate end dates
EC approves Aegon bailout without forcing coupon deferrment
Absence of measures forcing payments to Dutch state at expense of subordinated debt holders means Fitch upgrades firm's hybrid capital
Singapore bids to be Asian derivatives and clearing hub
Asian migration