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Regulation

FSB: G20 Reform Progress “Steady But Uneven” The Financial Stability Board’s (FSB) second annual report on the Implementation and Effects of the G20 Financial Regulatory Reforms, in which it concludes that implementation progress “remains steady but uneven”.
Basel Committee Highlights Implementation Progress The Basel Committee on Banking Supervision has issued a report stating that overall progress is being made in introducing the Basel III requirements, although it notes that some jurisdictions are facing “challenges” to meet implementation deadlines. In its seventh report ...
Fed Issues $1.2m Fine, Seeks Banking Ban for Ex-Barclays Trader The US Federal Reserve Board has announced that it will seek a $1.2 million fine and a permanent ban on employment in the banking industry for Chris Ashton, a former FX trader at Barclays.
FSB to Markets “OK, But More Needed”… The Financial Stability Board's update on OTC derivatives reform reports the usual mix of praise for industry progress tinged with a warning that more needs to be done
…FSB to Members, “OK But More Needed” Some Financial Stability Board members are concerned about their ability to implement trade reporting frameworks in time
US Court Dismisses Fraud Claims Against FXCM A US court has granted a motion to dismiss the legal complaints aimed at FXCM, and certain members of its senior staff, in which the plaintiff alleged that they were mislead about the risks associated with the firms’ agency business ...
MAS Postpones Non-Cleared Margin Rule The Monetary Authority of Singapore (MAS) has postponed the implementation of rules surrounding margin requirements for non-centrally cleared derivatives. The rules were due to be invoked on September 1, however in a letter to market participants, MAS says it has been ...
CME Bans Spoofer CME Group has issued a 60-day ban against a trader it accuses of spoofing in its gold and natural gas futures markets – the ban comes just weeks after a US court sentenced Michael Coscia to three years in jail for ...
CFTC Charges Deutsche Over Swaps Reporting Outage The US Commodity Futures Trading Commission (CFTC) has formally charged Deutsche Bank over a breakdown in th ebank’s systems that led to it not reporting swaps data for five days. The CFTC filed the civil Complaint in the US ...
CFTC Report Provides Little Clarity on Swaps Rules The Commodity Futures Trading Commission (CFTC) has issued its final report on the de minimis threshold for swap dealer registration, yet it remains unclear whether the Commission will make changes to this threshold. The current de minimis threshold for swap ...