News Centre

ISDA Commentary On EU Presidency Compromise Texts Of June 20 On MiFID2/MiFIR

Date 10/07/2012

ISDA  welcomes  publication  by the  Danish  Presidency  of a first  complete  Compromise  Text  onMiFID2/MIFIR,  dated 20 June 2012.   It remains our view that legislative  reform should support liquidity  in  the  interests  of  systemic  resilience;  should  protect  the  funding  requirements  ofcorporates and sovereigns; and should advance the principle of strong risk management.

Bob Diamond's Letter To Andrew Tyrie MP Chairman UK Treasury Select Committee

Date 10/07/2012

10 July 2012

Dear Mr Tyrie,

Having watched the committee's session today, I was dismayed that you and some of your fellow committee members appear to have suggested that I was less than candid with the committee last week. Any such suggestion would be totally unfair and unfounded.

SIFMA Statement On Final Rules On The Definitions Of "Swap" And “Security-Based Swaps"

Date 10/07/2012

SIFMA today released the following statement from President and CEO Tim Ryan after the Commodity Futures Trading Commission finalizing a joint CFTC-SEC rule that would define what would be a swap and security based swap for regulatory purposes (the SEC passed the rule by seriatim vote on July 6).  

U.S. Senate Banking Committee Chairman Johnson Announces Committee Oversight Activities Regarding LIBOR

Date 10/07/2012

Today, Senate Banking Committee Chairman Tim Johnson (D-SD) released the following statement outlining his plans for Committee oversight and due diligence regarding recent developments pertaining to the London interbank offered rate (LIBOR). LIBOR for the US dollar is currently set based on information provided by 18 global financial institutions, including several U.S. banks. LIBOR is used by financial institutions to set interest rates on a variety of financial products including mortgages, student loans, and credit cards. 

Barclays: Agreement On Matters Arising Subsequent To Bob Diamond Resignation

Date 10/07/2012

On 3 July, Barclays announced that Bob Diamond had stepped down from the Boards of Barclays PLC and Barclays Bank PLC, and from his role as Chief Executive, with immediate effect. Barclays today announces that the Board of Barclays PLC has reached agreement with Mr Diamond on various matters arising subsequent to his resignation.

SEC Charges Orthofix International With FCPA Violations

Date 10/07/2012

The Securities and Exchange Commission today charged Texas-based medical device company Orthofix International N.V. with violating the Foreign Corrupt Practices Act (FCPA) when a subsidiary paid routine bribes referred to as “chocolates” to Mexican officials in order to obtain lucrative sales contracts with government hospitals.

Betfair Selects StreamBase For Real-Time Analytics - Leading Betting Exchange Selects StreamBase To Process Distributed Real-Time Event Flows

Date 10/07/2012

StreamBase Systems today announces that Betfair has selected StreamBase CEP. The selection allows Betfair, the world’s largest Internet betting exchange, to use StreamBase’s Complex Event Processing (CEP) platform to integrate distributed real-time event flows into the Betfair cloud platform.

CFTC Files Complaint Against Peregrine Financial Group, Inc. And Russell R. Wasendorf, Sr. Alleging Fraud, Misappropriation Of Customer Funds, Violation Of Customer Fund Segregation Laws, And Making False Statements - Commission Seeks An Order Freezing Assets And Restitution Of Customer Funds.

Date 10/07/2012

The U.S. Commodity Futures Trading Commission (CFTC) announced today that it filed a complaint in the United States District Court for the Northern District of Illinois against Peregrine Financial Group Inc. (PFG), a registered futures commission merchant, and its owner, Russell R. Wasendorf, Sr. (Wasendorf). The Complaint alleges that PFG and Wasendorf committed fraud by misappropriating customer funds, violated customer fund segregation laws, and made false statements in financial statements filed with the Commission.

European Parliament: Tough Sanctions Needed For Market Abuse

Date 10/07/2012

Insider dealing and market manipulation, referred to together as "market abuse", must be clearly defined and punished with the same dissuasive criminal sanctions in all member states, says the civil liberties committee.

Statement Of Support - CFTC Chairman Gary Gensler - Further Definition Of The Term “Swap"

Date 10/07/2012

Further Definition of the term “Swap,”

I support the final rulemaking to implement the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) requirement to further define “swap” and other products that come under swaps market reform. The Commodity Futures Trading Commission (CFTC) worked closely with the Securities and Exchange Commission (SEC), in consultation with the Federal Reserve, on the final rules and interpretations to further define “swaps,” “security-based swaps,” “mixed swaps” and “security-based swap agreements.”