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  • UK's Financial Services Authority Proposals For New Banks A “Game-Changer”, Says Liberal Democrat 's Baroness Kramer

    Date 26/03/2013

    Proposals to allow new banks to challenge high street players are a “game-changer”, Liberal Democrat peer Baroness Kramer said today.

  • Cyprus Stock Exchange: Suspension Of Trading On Tuesday 26 And Wednesday 27 March 2013

    Date 26/03/2013

    The Cyprus Stock Exchange (CSE) further to its announcements dated 19 and 21 March 2013, announces that by a decision of the Chairman of the Council and the Director General- CEO of the CSE, taken in accordance with Article 183 of the Securities and Stock Exchange Law, which was ratified by the Council of the Stock Exchange in today's extraordinary meeting in accordance with Article 184 of the Law and in view of the developments in the economy and the continuation of the bank holiday (also for March 26 and 27, 2013), the suspension of trading of all securities listed on the Stock Exchange is extended for the purpose of ensuring the proper functioning of the Stock Market and to protect investors. This decision was taken for the same reasons mentioned in CSE’s announcements dated 19 and 21 March 2013.

  • Antitrust: European Commission Extends CDS Information Market Investigation To International Swaps And Derivatives Association (ISDA)

    Date 26/03/2013

    The European Commission has extended the scope of an investigation into credit default swaps (CDS) to include the International Swaps and Derivatives Association (ISDA), a professional organization of financial institutions involved in the over-the-counter (OTC) trading of derivatives.The Commission's inquiry found preliminary indications that ISDA may have been involved in a coordinated effort of investment banks to delay or prevent exchanges from entering the credit derivatives business. Such behaviour, if established, would stifle competition in the internal market in breach of EU antitrust rules. The opening of an investigation does not prejudge its outcome.

  • The UK's Financial Services Authority And The Bank Of England Relax The Barriers To Entry For New Bank Entrants

    Date 26/03/2013

    The Financial Services Authority (FSA) and the Bank of England have published the results of their review (the Review) into barriers to new entrants to the banking sector. This Review sets out significant changes to regulatory requirements and authorisation processes which, taken together, will reduce some of the regulatory barriers to entry into the banking sector and, as a result, enable an increased competitive challenge to existing banks.

  • HKFE Announces Revised Margins For Futures Contracts

    Date 26/03/2013

    Hong Kong Futures Exchange Limited (HKFE), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), has announced that with effect from the commencement of trading on Tuesday, 2 April 2013, the minimum margins to be collected by an Exchange Participant from its clients in respect of their dealings in the following futures contracts will be as outlined in the table below.  The adjustments are based on the clearing company’s normal procedures and standard margining methodology.