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  • US Federal Banking Agencies Seek Comment On Interagency Effort To Reduce Regulatory Burden

    Date 17/12/2015

    The federal banking agencies approved a notice requesting comment on the fourth and final set of regulatory categories as part of their review to identify outdated or unnecessary regulations applied to insured depository institutions.

  • EBA Delivers Guidance For Business Reorganisation Plans Under The BRRD

    Date 17/12/2015

    The European Banking Authority (EBA) published today its final draft Regulatory Technical Standards (RTS) on the content of business reorganisation plans and progress reports, as well as guidelines defining how to assess plans. The work has been developed within the framework established by the Bank Recovery and Resolution Directive (BRRD), which sets procedures for the recovery and resolution of credit institutions, investment firms and related entities across the EU.

  • EGX Organized A Training Program For Its Employees About The Amended Egyptian Accounting Standards

    Date 17/12/2015

    As part of the Egyptian Exchange (EGX)’ efforts to increase its staff efficiency and capabilities, EGX organized a training program about the amended Egyptian accounting standards, held by The Egyptian Society of Accountants & Auditors for EGX employees and senior managers from listed companies, disclosure, membership, market surveillance, auditing and finance sectors during the period from 23 November to 15 December 2015.

  • IPO Column From December's Trading Places: An Interim Year - Our Columnist Patrick L Young Looks Back At Some Notable Points To Ponder As We Exit The Year 2015...

    Date 17/12/2015

    It wasn’t an incredible year but in the rich granular framework of markets this was nonetheless, a fascinating 12 month period. Right to the very end, we saw innovations being delivered with the launch of the American Financial Exchange from the offices of the redoubtable Dr Richard Sandor. At the same time, we also saw cracks appear amongst some platforms - various competitor entities are rumoured to be somewhat short of funds as we enter 2016. With QE continuing in Europe at least...the swaps market has yet to show its potential in its new CCP-centric format. There may yet be US interest rate rises in the New Year but an outbreak of that now almost mythical creature, a fully fledged yield curve, may take somewhat longer. Every month lost piles pressure on various SEFs. Meanwhile bond platforms exploded, albeit with no newcomers yet really demonstrating much tangible volume while some, such as Bondcube disappeared altogether. Competition remained a topic of hot discussion in the world of ETD as the LSE’s propaganda machine continued to push the ill-defined notion of open clearing. However, some say that next year will be the year of competition in ETD, led by the likes of LSE Rita-Curve & NLX. However, as that was also the prognosis for some ‘forward looking’ features for several consecutive years’ past, I cannot say I am holding my breath that we will see tangible results soon.

  • New York State Department Of Financial Services Announces Enforcement Action Against Habib Bank Limited

    Date 17/12/2015

    Shirin Emami, Acting Superintendent of Financial Services, today announced an enforcement action against Habib Bank Limited (the “Bank”) after the most recent examination of the Bank, conducted by the New York State Department of Financial Services (“NYDFS”) and the Federal Reserve Bank of New York (“FRBNY”), identified significant breakdowns in the Bank’s anti-money laundering compliance.