IOSCO and Basel Committee outline new requirements to cut derivatives risk
July 9, 2012 - The Basel Committee on Banking Supervision (BCBS) and the International Organisation of Securities Commissions (IOSCO) have published a consultative paper on margin requirements for non-centrally-cleared derivatives, and have invited public feedback on the scope, feasibility and impact of its proposed measures.
EU drives ahead with regulating OTC derivatives by year end
July 5, 2012 - The Council of the European Union has adopted a regulation requiring financial firms to clear over-the-counter derivatives contracts through a central clearing counterparty and report them to trade repositories.
CFTC Approves Phased Compliance Proposal for Certain Swap Regulations
June 29, 2012 - The Commodity Futures Trading Commission (Commission) today voted to propose a phased compliance program regarding certain swaps to non-U.S. swap dealers, non-U.S. major swap participants, U.S. swap dealers, U.S. major swap participants, and foreign branches of U.S. swap dealers and U.S. major swap participants.
SEC Adopts New Procedures for Reviewing Clearing Submissions Under Dodd-Frank Act
June 28, 2012 - The Securities and Exchange Commission has adopted rules that establish procedures for its review of certain clearing agency actions. The rules were required by the Dodd-Frank Wall Street Reform and Consumer Protection Act, which called for a new regulatory framework for trading in over-the-counter derivatives, including swap agreements.
Trade associations' unveil EU regulation guidebook
June 28, 2012 - Four trade associations, including the Association of Private Client Investment Managers and Stockbrokers (APCIMs), the European Federation of Energy Traders (EFET), the Futures and Options Association (FOA) and the Wholesale Market Brokers' Association (WMBA), have announced their joint development of a business-friendly guide to assist firms in complying with the complex set of new European-wide regulatory standards.
Basel Committee publishes final rules for banks on disclosure
June 26, 2012 - The Basel Committee on Banking Supervision (BCBS) has issued its final rules on the information that banks must disclose when detailing the composition of their capital. Its publication, relevant to the looming Basel III stipulations, is entitled 'Composition of Capital Disclosure Requirements'.
UK banking reforms 'will cost financiers $11bn annually'
June 15, 2012 - Banks in the UK will have to outlay as much as £7 billion ($11 billion) annually to comply with new government rules, it has emerged.
UK government to press ahead with banking reforms
June 14, 2012 - Landmark reforms to the British banking industry will go ahead despite the fact they are unpopular among the majority of financiers, George Osborne has confirmed.
