News Centre

EBA Issues Guidance On The Implementation Of Resolution Tools

Date 20/05/2015

The European Banking Authority (EBA) published three sets of final Guidelines aimed at facilitating the implementation of resolution tools in the banking sector across the EU. These Guidelines, which stem from the EU Bank Recovery and Resolution Directive (BRRD), foster convergence on resolution matters by giving detailed guidance to EU Resolution Authorities on the circumstances they should assess when taking their resolution decisions.

USA Department Of Justice, Office Of Public Affairs: Five Major Banks Agree to Parent-Level Guilty Pleas

Date 20/05/2015

Five major banks – Citicorp, JPMorgan Chase & Co., Barclays PLC, The Royal Bank of Scotland plc and UBS AG – have agreed to plead guilty to felony charges.   Citicorp, JPMorgan Chase & Co., Barclays PLC, and The Royal Bank of Scotland plc have agreed to plead guilty to conspiring to manipulate the price of U.S. dollars and euros exchanged in the foreign currency exchange (FX) spot market and the banks have agreed to pay criminal fines totaling more than $2.5 billion.  A fifth bank, UBS AG, has agreed to plead guilty to manipulating the London Interbank Offered Rate (LIBOR) and other benchmark interest rates and pay a $203 million criminal penalty, after breaching its December 2012 non-prosecution agreement resolving the LIBOR investigation.

MGEX Adds Wells Fargo Securities, LLC As A New Clearing Member

Date 20/05/2015

MGEX, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), and Wells Fargo & Company are pleased to announce that Wells Fargo Securities, LLC has joined as MGEX’s newest clearing member.

Effective Regulatory Oversight And Investor Protection Requires Better Information By SEC Commissioner Luis A. Aguilar

Date 20/05/2015

It is said that, “knowledge is power.”  Knowledge, however, requires information.  And there is no doubt we live in an age of information.  The advent of the Internet and the breathtaking technological advances we have witnessed over the last few decades have given us access to more information than at any time in history.  The available data seems to be limitless—and all available at the touch of a fingertip.

Moscow Exchange To Introduce OFZ Liquidity Support Program

Date 20/05/2015

On 1 June Moscow Exchange will complete the migration from TO to T+1 settlement cycle for Russian federal government bonds known as OFZs. The Exchange will also introduce a liquidity support program for trading in the new settlement cycle.

Statement At Open Meeting: Modernizing And Enhancing Investment Company And Investment Adviser Reporting By SEC Chair Mary Jo White

Date 20/05/2015

Good morning, everyone. This is an open meeting of the Securities and Exchange Commission on May 20, 2015 under the Government in the Sunshine Act.

New York State Department of Financial Services Announces Barclays To Pay $2.4 Billion, Terminate Employees For Conspiring To Manipulate Spot Fx Trading Market - Barclays Employee: “If You Aint Cheating, You Aint Trying” - Barclays FX Trader “[Y]es, The Less Competition The Better” - NYDFS To Continue Its Investigation Into Electronic FX Trading

Date 20/05/2015

Benjamin M. Lawsky, Superintendent of Financial Services, today announced that Barclays will pay $2.4 billion and is terminating eight additional Bank employees who engaged in misconduct for New York Banking Law violations in connection with its scheme to manipulate spot trading in the foreign exchange (FX) market. The overall $2.4 billion penalty Barclays will pay includes $485 million to the New York State Department of Financial Services (NYDFS), $400 million to the Commodities Futures Trading Commission (CFTC), $710 million to the U.S. Department of Justice (DOJ), $342 million to the Federal Reserve, and 284 million GBP (approximately $441 million) to the United Kingdom’s Financial Conduct Authority (FCA).

LSEG: Asset Owner Adoption Of Smart Beta Growing And Broadening According To New FTSE Russell Global Survey

Date 20/05/2015

• Over 70% of asset owners with smart beta allocation now combining strategies
• ETFs most preferred vehicle for tactical smart beta strategies
• European asset owners continue to lead North America on adoption of smart beta

Barclays To Pay $400 Million Penalty To Settle CFTC Charges Of Attempted Manipulation And False Reporting Of Foreign Exchange Benchmark Rates - CFTC Also Took Action Today Against Barclays And Its Affiliates For Attempted Manipulation And False Reporting Of The ISDAFIX Benchmark, An Interest Rate Benchmark — The First Enforcement Action Addressing Abuse Of ISDAFIX - Barclays Has Now Been Subject To Three CFTC Enforcement Actions For Benchmark Rate Abuses (ISDAFIX, FX, And LIBOR) Imposing A Total Of $715 Million In Penalties And Requiring Extensive Remediation

Date 20/05/2015

The U.S. Commodity Futures Trading Commission (CFTC) today issued an Order filing and settling charges against Barclays Bank PLC (Barclays) for attempted manipulation, false reporting, and aiding and abetting other banks’ attempts to manipulate, global foreign exchange (FX) benchmark rates to benefit the positions of certain traders.

CFTC Orders Barclays To Pay $115 Million Penalty For Attempted Manipulation Of And False Reporting Of U.S. Dollar ISDAFIX Benchmark Swap Rates - CFTC Also Took Action Today Against Barclays For Abuses Of Foreign Exchange Benchmark Rates - Barclays Has Now Been Subject To Three CFTC Enforcement Actions For Benchmark Rate Abuses (ISDAFIX, FX, And LIBOR) Imposing A Total Of $715 Million In Penalties And Requiring Extensive Remediation

Date 20/05/2015

The U.S. Commodity Futures Trading Commission (CFTC) issued an Order today filing and settling charges against Barclays PLC, Barclays Bank PLC, andBarclays Capital Inc. (collectively, Barclays or the Bank). The Order finds that, beginning at least as early as January 2007 and continuing through June 2012 (the Relevant Period), Barclays attempted on many occasions to manipulate and made false reports concerning the U.S. Dollar International Swaps and Derivatives Association Fix (USD ISDAFIX), a global benchmark for interest rate products. This is the first enforcement action addressing abuses of this benchmark.