Tag: financial markets
Strengthening AML regulations across the world
Money Laundering laws strengthened in Bahrain Money Laundering regulations in Bahrain have been strengthened following the signing of a Royal Decree by Sheikh Hamad bin Isa Al Khalifa. In an amendment to the Money Laundering and Counter Terrorism regulations, security services have been given extended powers to co-ordinate with other countries in cracking down on […]
Proposals for regulations in shadow banking and new standards for multi-listed securities
FSB proposals on shadow banking The Financial Stability Board (FSB) has published proposals to strengthen the oversight and regulation of shadow banking. The proposals follow on from the 2011 G20 summit in Cannes at which the G20 leaders agreed to take steps to mitigate the risks posed by “that part of the financial system that […]
International Trade Finance Trends
Asia Trade Finance Week 2013 Asia Trade Finance Week is nearly upon us with more than 600 delegates expected to attend the event in Singapore from the 2-4th September. This event not only highlights the importance of Asia within the global flow of trade it also provides delegates with a chance to catch up on […]
Operational risk and regulation
Impact of Basel III and Dodd-Frank Act A survey conducted by Chartis Research has revealed that capital adequacy requirements linked to Basel III and the Dodd-Frank Act are expected to be leading sources of regulatory and operational risk management pressures in the immediate future. The survey which took opinions from financial organisations across the globe […]
ICMA issues covered bond statement
The International Capital Market Association (ICMA) has issued a statement to the credit rating agencies relating to the methodologies used in rating covered bonds. The statement revolves around the volatility of covered bond ratings in particular and other ratings in general. Acknowledging the challenge of giving a credit opinion “through the cycle” the statement does […]
The risks involved in securities settlement and custodial services
Court verdict on Wells Fargo’s securities lending programme A federal court jury in Minnesota has rejected an $8.2m claim by Blue Cross Blue Shield of Minnesota and other institutional investors that Wells Fargo & Co misrepresented a securities lending programme as safe. Under the program, Wells Fargo held its clients’ securities in custodial accounts and […]
Boost to the Triparty Repo Settlement Interoperability
The ICMA European Repo Council has signed a memorandum of understanding with Clearstream, Euroclear and Eurex Clearing, which engages those providers in a joint project focusing on increasing the efficiency of the repo market. Through this agreement Eurex Clearing will be able to extend the connected settlement locations for its secured market pooling with Clearstream to […]
Shining the spotlight on Corporate Governance
IFSB (the Islamic Financial Services Board) and INCEIF (The Global University of Islamic Finance) have just announced the confirmed speakers for their second Executive Forum on Islamic Finance. Entitled “Towards Strengthening Corporate and Sharī`ah Governance in Islamic Banks” the forum is being held in Kuala Lumpur, Malaysia on 26-27 August. Speakers for the event include […]
13 Banks Accused of Blocking CDS Market
Barclays, RBS, Deutsche Bank, Citigroup, UBS and JP Morgan are amongst 13 banks accused by EU Commission of blocking the access for exchanges to the CDS market on fears that this would reduce their profits. Deutsche Börse and Chicago Mercantile Exchange were refused licences between 2006-2009 by ISDA and Markit, which are controlled by banks, to […]