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U.S., EU officials clash over derivatives rules  

May 28, 2015

U.S. and European Union regulators clashed on Wednesday over how to provide solid financial backing for the world's $630 trillion derivatives market and also avoid duplication of rules that would be costly for banks and other players.

 

Deutsche Bank pays $55m penalty  

May 28, 2015

The Securities and Exchange Commission has charged Deutsche Bank with filing misstated financial reports during the height of the financial crisis that failed to take into account a material risk for potential losses estimated to be in the billions of dollars.

 

G7 finance chiefs ponder flagging growth, Greek risk  

May 28, 2015

Little more than a gentlemen’s club in recent years, G7 finance ministers and central bankers have their work cut out this week to revive stuttering global growth and defuse tensions over China’s growing economic clout.

 

BlackRock's Fink says our biggest risk isn't China or interest rates: It's us  

May 28, 2015

As the co-founder and CEO of BlackRock, the biggest asset manager on the planet with over $4.6 trillion (that’s with a “T”) of clients' funds under management, Fink must be constantly up to speed on the global financial markets and all their vagaries.

 

Deutsche Bank Ignored Its CDS Problems Until They Went Away  

May 27, 2015

Today the Securities and Exchange Commission fined Deutsche Bank $55 million for accounting misstatements relating to some crisis-era credit derivatives, and reading the SEC order makes me feel like a peasant in the Dark Ages discovering a classical Greek statue in a pile of rubble. 

 

Fed's Lacker says letting banks fail will restore market discipline  

May 27, 2015

Policymakers must ensure that financial industry creditors do not expect government bailouts and must be willing to let firms fail in order to restore market discipline, a top Federal Reserve official said on Tuesday.

 

Dodd-Frank Hits Businesses and Benefits Few  

May 27, 2015

Among the Ten Thousand Commandments, as Competitive Enterprise Institute Vice President Wayne Crews titles his annual study — just released for 2015 — of the Federal Register, are thousands of financial commandments added by the Dodd-Frank Wall Street Reform and Consumer Protection Act. 

 

Wall Street Is Using the Power of Dodd-Frank Against Itself  

May 27, 2015

Regulating Wall Street is an Old Testament sort of affair: Like Leviticus, it is all about the persnickety details. But politicians try to talk about it in New Testament terms, with sinners and saints, salvation and damnation. Only they can’t agree on who the sinners are — the bankers or the bureaucrats — and wherein lies salvation.

 

WMA: Scrap RDR definition of independence  

May 27, 2015

The Wealth Management Association (WMA) has attacked the "failure" of the RDR to clearly define 'independent' advisers and suggested MiFID II's description would be a better suggestion. In its response to the Financial Conduct Authority's discussion paper on MiFID II, the body questioned several of the planned proposals which will be implemented across Europe. 

 

ESMA calls for UCITS amendments with launch of EMIR review  

May 26, 2015

The European Securities and Markets Agency (ESMA) has called for a review of the UCITS Directive to account for the central clearing of derivatives required under the European Market Infrastructure Regulation (EMIR).

 
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