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Regulation

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  • James Kelly, a former managing director at Goldman Sachs in derivatives sales management for U.K. clients, institutions and hedge funds, has joined the U.K. Financial Conduct Authority as an advisor in the wholesale banking and investment management division within supervision.
  • Sixty-five percent of market participants expect the European Commission to provide companies a relief mechanism for compliance with European Markets Infrastructure Regulation, a week before reporting to trade repositories kicks off Feb. 12.
  • The introduction of swap execution facilities combined with reduced activity by investment banks impacted the performance of global broking in the fourth quarter of last year, according to ICAP.
  • The Renminbi Qualified Institutional Investor (RQFII) scheme is set for another milestone as China enters the Year of the Horse, with the first batch of exchange-traded fund (ETF) products investing in China’s onshore government bonds due to be launched around the middle of February. The new move will help establish a benchmark for all RQFII bond products.
  • The Chinese internet company could yet list in Hong Kong, but even if it does other mainland tech companies are unlikely to follow unless the city’s bourse conducts far broader changes to its rules. Ian Driscoll reports.
  • Insider trading and market manipulation are punishable as criminal offences under the Market Abuse Directive, following an agreement between the European Council, European Parliament and European Commission.