Derivs - People and Markets
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U.K., Dutch and Nordic Members of the European Parliament will push for institutions for occupational retirement provision pension funds to be exempted from forthcoming derivatives legislation in Europe when they make parliamentary amendments over the next few days.
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The Chinese State-Owned Assets Supervision and Administration Commission has imposed tight requirements for state-owned enterprise derivatives use, including a prior-approval requirement for any offshore commodity derivatives.
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The Autorité des marchés financiers, France’s market regulator, has struck out on its own to propose broker-dealers and other market intermediaries give investors early notification about modifications slated to hit securitizations and derivatives, as well as provide investors with regular quarterly reports.
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Lloyds Bank Corporate Markets has hired Andy Hartree, an ex-director in energy sales at BNP Paribas in London, as a director in commodity derivatives structuring also in London.
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The Commodity Futures Trading Commission should lower proposed thresholds for landing delayed reporting of block trades of over-the-counter derivatives, say strategists at Barclays Capital in New York.
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Asian and U.S. firms that don’t plan to market securitized transactions to European Union credit institutions theoretically could get hit with a new E.U. law concerning risk retention if anyone buying into part of the deal enters into over-the-counter derivatives with an E.U. institution.
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A plan to increase risk weightings for banks’ exposures to central counterparties may cool down dealers who might have been keen to push clearing for clients.
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Deutsche Bank will defer up to 90% of the amount of some 2010 bonuses over three years. The level would be applied to its more senior employees and those identified as senior risk takers, and set the firm apart from rivals, who are deferring less.
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Werner Langen, European Member of Parliament, has removed reporting requirements for non-financial corporates and also delayed the implementation of clearing for them.
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The European Securities and Markets Authority is expanding its derivatives, credit rating agency and asset management expertise, and has today begun hiring for its Markets and Intermediaries Division.
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Werner Langen’s amendments to the European Commission's legislative proposal on how to achieve an efficient, safe and sound derivatives market in Europe, have just been released in German. Click through to view the paper in full.