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The ratings review finished with both upgrades and downgrades linked to senior bonds now being subordinated to regular deposits
Public pension schemes have sold shares in coal, oil and gas companies but are still funding expansion of the gas industry through infrastructure funds
Key points of contention include the investor sanctions regime and the definition of 'resilience'
European and other regulators are working on reforms to make covered bond funding more efficient
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The European Commission is gauging opinions from companies, individuals and associations on a pushing ahead with an effort bolster the international jurisdiction of courts.
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A vote in the European parliament today on whether to reject technical standards covering non-financial companies in the European Market Infrastructure Regulation has been cancelled. The move came after the European Commission pledged today to phase-in obligations for non-financial firms to clear over-the-counter derivatives.
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A proposal from the European Securities and Markets Authority for interoperable central counterparties to assess the need to harmonise their risk management frameworks has been tagged as unworkable by market participants. The European Multilateral Clearing Facility, SIX x-clear and LCH.Clearnet all think the proposal is not practicable.
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Misconduct in interest rate submissions at the Royal Bank of Scotland continued into 2010, despite the firm’s management being made aware of potential misconduct related to Libor submissions, according to documents released by regulators. The firm was today fined GBP87.5 million (USD137 million) by the U.K. Financial Services Authority, USD325 million by the U.S. Commodity and Futures Trading Commission, and USD150 million by the U.S. Department of Justice for misconduct relating to Libor. -
UBS employees earning over CHF250,000 will have part of their bonuses deferred.
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The Hong Kong Exchange has presented its plans for after hours futures trading to the Legislative Council’s Panel on Financial Affairs.
