Four industry bodies - FIA, ISDA, MFA and
SIFMA - have submitted a joint letter to the US Commodity Futures Trading
Commission (CFTC) urging the regulator to take a principle’s based approach to
its proposed rule on regulation automated ...
One of the big
questions following the UK’s referendum result in favour of leaving the
European Union is how this will impact the legal and regulatory framework that
financial services firms operating there will be expected to adhere in ...
The Australian Securities and Investments
Commission (ASIC) has issued a stark warning following a recent surveillance program that identifying “serious
and widespread” compliance failures in the Australian retail OTC derivatives
ASIC says it has
observed a “material increase” in ...
The US Commodity Futures Trading Commission
(CFTC) and the European Securities and Markets Authority (Esma) have signed a
Memorandum of Understanding (MoU) to co-operate when regulating Central
Clearing Counterparties (CCPs).
The MoU establishes co-operation arrangements,
including the exchange of information ...
The US Securities and Exchange Commission (SEC) has
announced it has charged a New York City-based trader for what looks like a
case of dodgy dealing. The SEC claims that Harvard-educated Haena Park
defrauded investors out of millions of dollars ...
Before unveiling the Global Code of Conduct (Phase One) for the FX Market at a press conference in New
York, Reserve Bank of Australia Deputy Governor Guy Debelle made it clear why
the new guidelines are necessary.
“Let me remind ...
You do not have to look at too many participants in the FX
market to find a cynic. So it is not that surprising that there has been a fair
amount of scepticism expressed about how effective the new Global ...
The FX Working Group (FXWG), put together by the Bank for
International Settlements, has today released the first stage of the new Global
Code of Conduct.
The Code comprises a set of global principles of good
practice. The intention is ...
The US Commodity Futures Trading Commission (CFTC) has adopted a new rule for implementing cross-border margin requirements for uncleared swaps (Final Rule), despite being divided on the rule.
Originally published in January, the CFTC’s margin rule applies to CFTC-registered ...
Guy Debelle, assistant governor (financial markets) at the
Reserve Bank of Australia, has expressed his hope that the forthcoming Global
Code of Conduct will serve as a benchmark for FX industry standards in China.
Speaking via video link at the ...