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U.S. SEC beefs up administrative court to meet rising demand  

June 30, 2014

The U.S. Securities and Exchange Commission is hiring two new administrative law judges and three law clerks as its lawyers turn increasingly to the agency's administrative court as a preferred venue over federal court for filing enforcement actions.

 

Stress test finds Israel banking system stability safe from recession  

June 29, 2014

There is no danger to the stability of Israel's banking system should there be a severe recession, although the hit to banks' profits could be significant, according to the results of the latest Bank of Israel stress test.

 

The SEC Puts Teeth Into Dodd-Frank, Takes A Bite For Whistleblowers  

June 27, 2014

For the past two years, Securities and Exchange Commission officials have frequently stated that the SEC won’t tolerate retaliation against whistleblowers who report suspected wrongdoing to the commission.

 

EU throws down gauntlet to U.S. over derivatives  

June 27, 2014

The European Union said it will help build a seamless global market in financial derivatives by accepting rules used in five countries, adding the United States would get the green light too if it showed flexibility. 

 

ESMA defiant over OTC trade reporting guidance  

June 27, 2014

The ESMA has disputed claims that it should be doing more to help financial institutions connect with trade repositories, following complaints that the regulator has not allowed enough time, has issued key specifications at the last minute, and is now scaling back its involvement with the job unfinished.

 

The good, the bad and the ugly  

June 27, 2014

Even by recent standards the regulatory agenda was busy this week. Banks have long complained the volume and speed of regulatory change is keeping them so busy that they have no time to focus on their day jobs. But, even by recent high standards, this week has been exceptional.

 
Tags: MiFID II

Trade reporting: finding your match  

June 26, 2014

Trade reporting requirements under the European Markets Infrastructure Regulation (EMIR) are aimed at increasing transparency in an opaque market, though flaws in the process are hampering this goal being achieved.

 

Societe Generale SS launches service for OTC derivatives  

June 26, 2014

Societe Generale Securities Services (SGSS) has launched a trade repository reporting offer for OTC derivatives, servicing multi-counterparties and multi-asset classes, under the European Markets Infrastructure Regulation (EMIR).

 

Evaluating Risk Is Now Part of Bankers’ Daily Lives  

June 26, 2014

Banks have faced heavy regulatory pressure since the financial crisis to “de-risk.” They have empowered their chief risk officers to get involved in strategic decisions, hired more risk managers and searched for vulnerabilities in new areas, from cyber attacks to problems with vendors.

 

Wall Street to take hit from new swap platforms -study  

June 25, 2014

The new rules, which took effect in February and were required by the 2010 Dodd-Frank financial reform law, could cause revenue in the derivatives business to fall by up to 35 percent, the study by consulting firm McKinsey said.

 
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