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Regulation

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  • Industry executives are pushing for transparency, including prioritizing the creation of data repositories, and tiered implementation for the swaps rules of the Dodd-Frank Act.
  • Nine of the 61 positions the Hong Kong Securities and Futures Commission hopes to add this fiscal year will be focused on structured products or derivatives, according to a budget presented to the Hong Kong Legislative Council on Monday morning.
  • Market participants should support efforts by the Securities and Exchange Commission and Financial Industry Regulatory Authority to implement consolidated audit trails for futures and options trading, said William Brodsky, ceo of Chicago Board Options Exchange at the exchange’s Risk Management Conference in Dana Point, Calif., earlier this week.
  • Members of the European Parliament yesterday aired concerns that exemptions to the European Market Infrastructure Regulation proposed by MEP Werner Langen would water down the legislation.
  • Hedge funds in Australia would have to disclose much more information about their derivatives use under a recently-floated consultation paper from the Australian Securities & Investments Commission.
  • Proposed regulations from the Department of Labor regarding the definition of fiduciary to ERISA plan assets could preclude swap dealers from transacting in over-the-counter swaps with ERISA plans, according to lawyers at Orrick, Herrington, & Sutcliffe in New York.