Regulation & Clearing

  • FCA fines Tullett Prebon £15.4m

    FCA fines Tullett Prebon £15.4m

    The UK’s Financial Conduct Authority has fined interdealer broker Tullet Prebon £15.4m over various alleged failings, including broker conduct. The FCA claimed “lavish entertainment” and a “lack of controls” had allowed improper trading to take place.

  • Unresolved DTO saga furrows path to SEFs

    Unresolved DTO saga furrows path to SEFs

    Antagonism between the United Kingdom and European Union in Brexit negotiations is making interest rate and credit swap market fragmentation more likely by the day, as market participants in both jurisdictions solidify backup plans to trade on US swap execution facilities (SEFs).

  • CPMI and IOSCO lay out derivatives reporting roadmap

    CPMI and IOSCO lay out derivatives reporting roadmap

    A new report from the Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) has set out the governance of key over-the-counter (OTC) derivatives data elements.

  • Fed adds support to Volcker changes

    Fed adds support to Volcker changes

    The US Federal Reserve has given its final approval to amendments of the Volcker Rule, joining four other US regulatory agencies in backing relaxations of prop trading restrictions.

  • Maijoor prioritises fallbacks in euro transition

    Maijoor prioritises fallbacks in euro transition

    Steven Maijoor, chair of the European Securities and Markets Authority, has pointed to challenges on the path to reform of euro risk free rates, and highlighted fallbacks as his organisation’s most important next hurdle.

  • Brexit, rise of private debt and regs fuel FX swaps

    Brexit, rise of private debt and regs fuel FX swaps

    Trading turnover of FX swaps has increased by more than a third to $3.3tr a day during the past three years, outpacing growth in spot markets, according to the Bank of International Settlements’ triennial survey of the global FX market, released this week.

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