International
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Lew: Foreign Officials Too Critical on Swaps Rules
By Reuters
05/21/2013 3:27:56 PM ET
WASHINGTON (Reuters)—Foreign countries are being too critical and potentially hurting delicate negotiations with U.S. regulators over how broadly they should apply new over-the-counter derivatives rules to trades that cut across borders, U.
High-Speed Trading a Stiff Challenge For U.S. Regulators
By Reuters
05/20/2013 10:52:56 AM ET
CHICAGO (Reuters)—Financial trading in world markets has grown so lightning-fast that effective regulation is growing tougher by the second, increasing the threat of crashes sparked by hoaxes, electronic glitches or yet-unknown causes.
The latest alarm was triggered by a fake tweet saying that the White House was bombed, prompting a U.
Accounting Boards Plan to Keep Leases on Balance Sheets
By Reuters
05/16/2013 12:10:06 PM ET
LONDON/NEW YORK (Reuters)—Company balance sheets could swell by trillions of dollars under an international plan issued on Thursday [May 16] by two accounting bodies to show more clearly the cost of leasing everything from photocopiers to property.
If the revised draft from the International Accounting Standards Board and the U.
Regulators Set September Deadline For Derivatives Deal
By Reuters
05/15/2013 12:39:26 PM ET
LONDON (Reuters)—Financial regulators have given themselves until September to try to resolve differences over how to supervise derivatives markets in the wake of the financial crisis, a U.S.
U.S. CFTC to Meet Next Week on Trading Rules
By Reuters
05/10/2013 10:45:56 AM ET
WASHINGTON (Reuters)—The top U.S. derivatives regulator will discuss next week keenly awaited rules for swaps trading that have the potential to weaken Wall Street's dominant position in the $650 trillion market.
U.S. SEC Proposes Rules For Cross-Border Swap Trades
By Reuters
05/01/2013 5:08:41 PM ET
EDITOR'S NOTE: This story has been updated throughout.
WASHINGTON (Reuters)—The top U.S. securities regulator unveiled a proposal on Wednesday [May 1] that spells out how its rules for swaps will apply to foreign banks, saying it hoped its proposal can resolve a brewing global conflict over how to regulate the $640 trillion market.
Commodity Traders Could Face Regulation For Role as Lenders
By Reuters
05/01/2013 11:54:05 AM ET
GENEVA (Reuters)—The world's little-regulated and often secretive commodity trading houses could face new disclosure rules, and even capital requirements, because of their money lending activities, after a global regulatory watchdog's review of "shadow banking."
The Financial Stability Board — a task force set up by the G20 group of major economies to improve global financial regulation in the wake of the 2008 crisis — has asked national and regional regulators to determine whether commodity traders should come under the scope of new rules.
Levin Urges Tough Cross-Border Bank Rules For Swaps Trading
By Reuters
04/24/2013 3:40:09 PM ET
WASHINGTON (Reuters)—A top U.S. lawmaker urged regulators to tighten the rules for swaps trading at foreign offices of U.S. banks, stepping into a simmering global conflict over how to supervise the $650 trillion derivatives market.
U.S., Asian Fund Managers at Risk From E.U. Bonus Cap
By Reuters
04/12/2013 12:22:50 PM ET
DUBLIN, Ireland (Reuters)—Portfolio managers in the United States and Asia could pull out of key European funds if Brussels goes ahead with proposals to cap bonuses, a senior industry figure said.
The European Parliament already curbed banker bonuses at the level of salary to address public anger at a pay culture politicians say prompted reckless risk-taking and ultimately triggered the financial crisis.
U.S. SEC's Walter: 'Maximum' Reliance on Foreign Swaps Rules
By Reuters
03/25/2013 11:00:49 AM ET
WASHINGTON (Reuters)—The top U.S securities regulator is urging international market regulators to find a compromise as they struggle to agree on how to apply new rules for cross border over-the-counter derivatives trades.
U.S. Offered Seat on New Global Accounting Panel
By Reuters
02/25/2013 11:48:44 AM ET
LONDON (Reuters)—The United States has been offered a seat on a new global accounting panel, in a move that the body behind the initiative hopes will help persuade the world's biggest capital market to adopt its rules.
Lack of U.
U.K. Bank Group BBA Approves LIBOR Handover
By Reuters
02/25/2013 11:34:21 AM ET
LONDON (Reuters)—Britain's main bank lobby group said members had approved handing over the running of LIBOR interest rates to a new operator, after it was stripped of overseeing the benchmark following a rigging scandal.
Britain's financial regulator said in September the British Bankers' Association had been careless and stripped it of its governance and oversight of the LIBOR benchmark.
Watchdogs to Update U.S. Senate on Global Bank Failure Plans
By Reuters
02/14/2013 11:33:07 AM ET
WASHINGTON (Reuters)—U.S. and European regulators will plan out how to cope with any future failure of a global bank, a U.S. official will say at a congressional hearing to assess regulators' progress on overhauling Wall Street oversight.
U.S. Accounting Body Targets Loophole Used By MF Global
By Reuters
01/16/2013 3:52:20 PM ET
NEW YORK (Reuters)—The group that sets U.S. accounting standards proposed tightening an accounting rule that brokerage MF Global used to obscure its exposure to risky European sovereign debt ahead of its bankruptcy filing in 2011.
Europe, Asia Banks Join U.S. in Swap Dealer Lineup
By Reuters
01/02/2013 12:53:05 PM ET
WASHINGTON (Reuters)—Asian and European banks registered as U.S. swap dealers this week, joining Wall Street rivals in complying with new rules that aim to shed light on the opaque $650 trillion derivatives market.
U.S. Delays Derivatives Rules For Foreign Banks
By Reuters
12/21/2012 4:10:25 PM ET
EDITOR'S NOTE: This story has been updated throughout.
WASHINGTON (Reuters)—The top U.S. derivatives regulator on Friday [Dec. 21] granted foreign banks more time to meet new rules for swap trading, saying it would continue to fine-tune the regulation that has drawn the wrath of foreign regulators.
U.K. FSA Wants More Banks to Help Set LIBOR
By Reuters
12/05/2012 12:06:58 PM ET
LONDON (Reuters)—Britain's financial watchdog wants more banks to help set LIBOR, saying firms that do not volunteer to join panels that calculate the interest rate daily could be compelled to.
The Financial Services Authority wants to make it harder to rig LIBOR, the London interbank offered rate — a benchmark used in contracts worth an estimated $500 trillion worldwide.
Global Regulators Promise Cooperation on Derivatives Rules
By Reuters
12/05/2012 11:42:02 AM ET
NEW YORK (IFR)—The U.S. Commodity Futures Trading Commission has released a statement outlining the results of a closed-door meeting between international regulators last week that promises widespread international cooperation in the implementation of global derivatives market reforms.
Regulators Pledge to Avoid Cross-Border Clashes over Derivatives
By Reuters
12/04/2012 5:14:01 PM ET
LONDON (Reuters)—Derivatives regulators from major trading centers promised on Tuesday [Dec. 4] to minimize cross-border clashes over their new rules to rein in risks in the $640 trillion sector and give industry extra time to adjust.
Wall Street Finds a Foreign Detour Around U.S. Derivatives Rules
By Reuters
12/03/2012 2:45:46 PM ET
SINGAPORE (Reuters)—Wall Street banks are looking to help offshore clients sidestep new U.S. rules designed to safeguard the world's $640 trillion over-the-counter derivatives market, taking advantage of an exemption that risks undermining U.
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