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Council Of The European Union Economic And Financial Affairs Council - Financial Transaction Tax: First Technical Reading Completed

Date 14/03/2012

On 13 March 2012 the Economic and Financial Affairs Council took stock of the work done on the proposal for a directive on the EU-wide financial transaction tax. The ministers identified the outstanding issues and discussed the next steps.
SIFMA General Counsel Ira Hammerman Remarks For SIFMA LEI Seminar - Building A Global Legal Entity Identifier (LEI) Framework

Date 14/03/2012

Good morning. My name is Ira Hammerman, senior managing director and general counsel at SIFMA. It is my pleasure to welcome you to today’s seminar on the legal entity identifier, or LEI, initiative.
CFTC Charges Joseph F. Welsh III, Former MF Global Broker, With Attempted Manipulation Of Palladium And Platinum Futures Prices

Date 14/03/2012

The U.S. Commodity Futures Trading Commission (CFTC) today announced that it filed a federal court action in the Southern District of New York chargingJoseph F. Welsh III, of Northport, N.Y., with attempted manipulation of the prices of palladium and platinum futures contracts, including the settlement prices, traded on the New York Mercantile Exchange (NYMEX). The CFTC complaint alleges that Welsh engaged in this conduct from at least June 2006 through May 2008 and specifically on at least 12 separate occasions.
"The Changeling" - Opening Remarks At The Futures Industry Association's Panel On The Evolution Of Commodity Markets, Boca Raton, Florida - CFTC Commissioner Bart Chilton

Date 14/03/2012

Good afternoon. There is no denying it; we don't live in simple times. Most of us live extremely, exceedingly complicated lives with emerging personal and business technologies. Technology has made us more efficient and effective at many things, but less complicated? That is certainly debatable.
SEC Announces Charges From Investigation Of Secondary Market Trading Of Private Company Shares

Date 14/03/2012

The Securities and Exchange Commission today charged two managers of private investment funds established solely to acquire the shares of Facebook and other Silicon Valley firms with misleading investors and pocketing undisclosed fees and commissions. The SEC alleges that the fund managers collectively raised more than $70 million from investors.

Shadow Banking And Financial Instability - Speech By Lord Turner, FSA Chairman At The CASS Business School

Date 14/03/2012

In a speech to the CASS Business School the Chairman of the Financial Services Authority (FSA), Lord Turner, set out how the ‘shadow banking’ sector contributed to the financial crisis, the risks it still poses to financial stability and the importance of a sufficiently comprehensive and radical policy response.
FIA Issues Order Handling Recommendations For Executing Brokers

Date 14/03/2012

The Futures Industry Association today issued order handling risk management recommendations for executing brokers. The report documents both current practice and emerging technologies in order to respond to regulatory concerns about algorithmic trading. The recommendations were developed by experts from executing firms and represent the latest in a series of recommendations developed by FIA members for trading firms, brokers and exchanges.
ICE Announces Over-The-Counter Foreign Exchange Clearing Service

Date 14/03/2012

IntercontinentalExchange (NYSE: ICE), a leading operator of global over-the-counter (OTC) markets, clearing houses and regulated futures exchanges, today announced that it is expanding its clearing services to include OTC Non-Deliverable Forward Foreign Exchange (FX) contracts.
FIA PTG And FIA EPTA Issue Recommendations For Software Development And Change Management

Date 14/03/2012

The FIA Principal Traders Group and the FIA European Principal Traders Association today issued a set of recommendations to assist trading firms in establishing internal procedures, processes and controls for the development, testing and deployment of trading software. FIA PTG and FIA EPTA member firms believe that in order for a firm to meet its regulatory obligations and manage and monitor risks, its trading software and technical infrastructure need to work as intended.
UK's Financial Services Authority Publishes An Analysis Of The Main Risks Facing Consumers

Date 14/03/2012

The Financial Services Authority (FSA) has published an analysis of the main risks which potentially face consumers in the financial services sector over the next 12 to18 months.