News Centre

ISDA Response To The IOSCO Consultation On Financial Benchmarks

Date 12/02/2013

Introduction

On behalf of our members, ISDA appreciates the opportunity to respond to this consultation, withthe goal of contributing to a robust and stable financial market. In this response, we have limited ourselves to commenting on those issues that are directly relevant to ISDA and OTC Derivatives Markets. There are, of course, many important issues discussed in the consultation document that go  beyond  that  scope,  and  we  defer,  in  relation  to  those  issues,  to  other  financial  market respondents with greater expertise and/or a more relevant focus. Equally, we will not address considerations of possible alternatives or successors to relevant indices (e.g. Libor or Euribor), either generically or specifically, in the case of those that we are aware will already be discontinued or those where a decision is yet to be made for the discontinuation of any indices/rates.

CFTC: Federal Court In Texas Orders Jonathan Hansen And His Company, J. Hansen Investments, LLC, To Pay Over $1.3 Million To Settle Commodity Pool Fraud Action

Date 12/02/2013

The U.S. Commodity Futures Trading Commission (CFTC) obtained a federal court Order against Defendants Jonathan Hansen (Hansen) and his firm, J. Hansen Investments, LLC (JHI), requiring them to jointly pay approximately $878,000 in restitution to defrauded investors and a civil monetary penalty of approximately $483,900. The Order also imposes permanent trading and registration bans against the Defendants and prohibits them from violating the anti-fraud provisions of the Commodity Exchange Act, as charged.

ESMA Seeks Feedback For Review Of The Short Selling Regulation

Date 12/02/2013

The European Securities and Markets Authority (ESMA) has published a Call for Evidence on the evaluation of the Regulation (EU) No236/2012 on short selling and certain aspects of credit default swaps (SSR).  This follows receipt of a formal mandate from the European Commission (EC) seeking technical advice on the evaluation of the effects of the SSR.

Financial Stability Board Publishes Peer Review On Risk Governance

Date 12/02/2013

The  Financial  Stability  Board  (FSB)  published  today  a  thematic  peer  review  on  risk governance. The report takes stock of risk governance practices at both national authorities and firms, notes progress made since the financial crisis, identifies sound practices and offers recommendations to support further improvements.

Despite Growing Engagement, Corporate Environmental Impacts Continue To Grow, Says Study - 2013 "State Of Green Business" Measures Global Impacts, Leadership, Key Trends Of Corporate Sustainability

Date 12/02/2013

The most comprehensive assessment of corporate sustainability activity to date shows that while companies around the world engage in a wide range of sustainability initiatives, the costs to the environment continue to grow.

Tel Aviv Stock Exchange: Bond-Yields Index Constituents

Date 12/02/2013

FESE Response To IOSCO Consultation Report On ‘Financial Benchmarks’ – CR01/13

Date 12/02/2013

FESE believes that it is appropriate that all benchmarks should be brought within the scope of civil and criminal sanctions against manipulation, and their governance, transparency and calculation methodology arrangements should be subject to a set of high level principles by IOSCO. 

Euroclear Strengths Reflected In 2012 Operating Results

Date 12/02/2013

Euroclear clients deposited a record EUR 23 trillion of assets for safekeeping and asset servicing with the  Euroclear group of national and international central securities depositories in 2012. This trillion euro increase is part of a wider and longer-term trend  where our growth rate in various measures of operating performance surpassed our nearest competitors.

112 Firms Meet Investors In Thai Bourse’s “Opportunity Day”

Date 12/02/2013

The Stock Exchange of Thailand (SET) will hold its quarterly "Opportunity Day", when top managements of listed companies meet directly with analysts and investors, on February 18 - March 28. This event will spotlight 112 firms with a combined market capitalization of THB 4.8 trillion (approx. USD 161.62 billion), an all-time high.

UK's Financial Services Authority Has Fined UBS £9.45m For Failings In Its Sale Of An AIG Fund

Date 12/02/2013

The Financial Services Authority (FSA) has fined UBS AG (UBS) for failures in the sale of the AIG Enhanced Variable Rate Fund (the Fund).  These failures led to UBS customers being exposed to an unacceptable risk of an unsuitable sale of the Fund.  UBS also failed to deal properly with complaints from customers about sales of the Fund.