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  • Bursa Malaysia Establishes New Shari’ah Committee

    Date 01/10/2012

    Bursa Malaysia Berhad would like to announce the establishment of its new  Shari’ah Committee in its efforts to enhance and strengthen the business  governance for its Islamic capital market offerings. The oversight function of  the Exchange’s Islamic business was previously provided by an individual  Shari’ah Advisor. As part of its strategic direction to propel the Exchange to  be a leading marketplace in Asia, Bursa Malaysia is focused on developing its  potential as an international Islamic fund-raising centre.

  • ESMA Launches A Consultation On Amendments To ESMA's Recommendations Regarding Mineral Companies

    Date 01/10/2012

    In March 2011 ESMA updated and revised  paragraphs 131-133 of the CESR Recommendations on the con-sistent  implementation of Commission Regulation (EC) No 809/2004 implementing  the Prospectus Di-rective (hereinafter the “Recommendations”) which  address the information that should be disclosed by mineral companies in prospectuses. ESMA's update of these provisions represented a  significant reform for this area, harmonising mineral reserves and  resources disclosure in prospectuses drawn-up in accord-ance with the  Prospectus Directive for the first time.

  • BME - The Spanish Stock Exchange - Traded €48.74 Billion In September, Up 45% From The Previous Month

    Date 01/10/2012

  • The equity trading on the Spanish Stock Exchange in the first nine  months totaled €529.09 billion, down 26.4% from the same period in 2011
  • The number of trades in the first nine months came in at 33.5  million, down 6% from the same period in 2011
  • As for the ETF segment, the trading volume in September was €274  million, up 32% year on year
  • The trading volume on BME’s Derivatives Market in the first nine  months totaled 52.32 million contracts. Record high in Options on Stocks monthly  trading
  • New issues on the Corporate Debt market in the  first nine months totaled €282.41 billion, exceeding the figure for the entire  year 2011
  • UK's Financial Services Authority Charges Four With Insider Dealing

    Date 01/10/2012

    Four men have been charged by the Financial Services  Authority (FSA) with conspiracy to insider deal between 1st November 2006 and  23rd March 2010.

  • Collateral Scarcity – A Gone Or A Going Concern? Speech By Benoît Cœuré, Member Of The Executive Board Of The ECB, ECB-DNB Joint Central Bank Seminar On Collateral And Liquidity

    Date 01/10/2012

    It is a great pleasure for me to speak here today at this conference, kindly hosted by De Nederlandsche Bank.

    1. The use of collateral is as old as economic transactions, and is mentioned in the Bible:

    2. “If thou at all take thy neighbour's raiment to pledge, thou shalt deliver it unto him by that the sun goeth down: For that [is] his covering only, it [is] his raiment for his skin: wherein shall he sleep?” 

    3. The importance of collateral in the economy may have been neglected in earlier academic work, but has been well recognised lately. In his seminal work on the topic John Geanakoplos says that:

  • UK's Financial Services Authority Warns Firms Must Not Try To 'Work Around' Commission Ban

    Date 01/10/2012

    FSA warns firms must not try to 'work around' commission ban The Financial Services Authority (FSA) has written to the CEOs of 24 product provider and advisory firms, outlining our concerns that firms may be looking to 'work around' the adviser charging rules by soliciting or providing payments or benefits.

  • European Commission: Commissioner Michel Barnier's Reaction To The Basel Committee's Preliminary "Regulatory Consistency Assessment"

    Date 01/10/2012

    The Basel Committee on Banking Supervision has been carrying out a preliminary assessment of the consistency of the Council's general approach on the Capital Requirements Directive IV (CRDIV) with the so-called Basel III agreement on internationally agreed capital standards. The outcome of its work so far has been published today, along with reports on the regulatory consistency in the US and Japan. The Committee's work will continue with a final report on consistency being issued once CRD IV is adopted.

  • ESMA Approves Axesor S.A. As A Credit Rating Agency

    Date 01/10/2012

    The European Securities and Markets Authority (ESMA) has formally approved the registration of Axesor S.A., based in Spain, as a credit rating agency (CRA) under Article 16 of the CRA Regulation.  The registration takes effect from 1 October 2012.

  • Burgundy: Aggregated Market Shares – Finnish Equities, September 2012

    Date 01/10/2012

    In cooperation with SIX Telekurs, Burgundy publishes aggregated market shares  in Finnish equities on a monthly basis, in order to provide a better picture of  the market.

  • Rate Validation Services Appoints Kevin Milne As Global CEO

    Date 01/10/2012

    Rate Validation Services (“RVS”), the end-of-day benchmark rate provider for the financial markets, has appointed Kevin Milne as Global CEO. Kevin joins RVS from the London Stock Exchange Group where he was a member of the Executive Committee responsible for its Post Trade businesses and activities.