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Regulation

CFTC Divided Over Approach to Swaps Regulation Comments from Commodity Futures Trading Commission (CFTC) staff at the SefCon VI conference in New York on Monday highlighted divides within the Commission about how to most effectively amend swaps regulations.  Over the past year, the Commission has preferred to ...
FCA Bans Former Weavering Capital CEO The UK’s Financial Conduct Authority has banned Magnus Peterson from performing any function related to any regulated activity. Peterson was CEO of failed hedge fund Weavering Capital which collapsed in 2009 following losses in options markets which were meant to ...
CFTC Prepares for New Automated Trading Rules The Commodity Futures Trading Commission (CFTC) is planning to introduce new rules aimed at curbing the potential risks associated with automated trading. In two separate but largely similar speeches delivered over the past two days, CFTC chairman, Timothy Massad, acknowledged ...
Bitcoin Regulatory Landscape Continues to Fragment On the same day that a top European court ruled that Bitcoins should be treated as a currency, legal experts warned that the regulatory landscape for Bitcoin and blockchain technologies in the US is becoming increasingly fragmented and complex. Yesterday ...
ISDA to Review Stance on Name Give Up Following the decision by a group of banks, Markit and ISDA to settle charges they collectively sought to block outside participants from entering the credit default swaps (CDS) market, ISDA is apparently set on reviewing its stance on the controversial ...
Carney, Bailey, Defend SMR Changes

06:02 October 21st 2015 in News, Regulation

Carney, Bailey, Defend SMR Changes

Bank of England Governor Mark Carney and Prudential Regulatory Authority head, Andrew Bailey, have defended proposed changes to the UK’s Senior Manager Regime (SMR). The changes, which were unveiled last week, sees the UK reverse from the original suggestion ...
Massad: Harmonisation Easier Said Than Done As regulators on either of the Atlantic continue to disagree over swaps regulations, Timothy Massad, chairman of the Commodity Futures Trading Commission (CFTC), has warned that the harmonisation of these rules remains a challenging prospect. Speaking at the World Federation ...
FCA Formally Bans Adoboli

05:43 October 19th 2015 in News, Regulation

FCA Formally Bans Adoboli

The UK’s Financial Conduct Authority has formally banned Kweku Adoboli, the trader found guilty of rogue trading when at UBS, resulting in losses of $2.25 billion. Adoboli was convicted of two counts of fraud by abuse of position on 20 November 2012, ...
UK Eases Senior Manager Regime

04:38 October 15th 2015 in News, Regulation

UK Eases Senior Manager Regime

The UK Treasury has moved to allay concerns in the country’s financial sector that the impending Senior Managers and Certification Regime will lead to an exodus of financial markets talent to other regions. In an announcement the Treasury says ...
CFTC Extends No-Action Relief for Packaged Swaps Transactions The Commodity Futures Trading Commission’s (CFTC) has announced another no-action relief extension, meaning that certain swaps executed as part of a package transaction will still not have to trade on Swap Execution Facilities (SEFs). The CFTC’s Division of ...