Regulation Correspondent, Europe
Huw's Feed
Oct 31, 2013

EU’s Barnier warns about softening new bond trading rules

LONDON, Oct 31 (Reuters) – European Union rules being
finalised to regulate derivatives and bond trading are too
light-touch and will leave markets in the dark, EU financial
services chief Michel Barnier has said.

Barnier has told Markus Ferber, a German member of the
European Parliament who is leading negotiations on the new
rules, he was concerned about how they are evolving.

Oct 31, 2013

Banking regulators propose tougher rules on trading books

LONDON (Reuters) – Banks using in-house mathematical models to value their trading book risks should also use a standardized approach as a backstop, global banking industry regulators said on Thursday.

The Basel Committee of banking supervisors from nearly 30 countries have published a second, more detailed 127-page consultation on reforming how risks on trading books are calculated after finding wide discrepancies among banks.

Oct 30, 2013

New rule to ring in costly accounting change for telcos

LONDON, Oct 30 (Reuters) – Standard setters have reached
broad agreement on the first global rule telling companies how
to book revenues in a reform that may encourage listings and
bump up IT costs for telcos.

Revenue is the most important line in a company’s earnings
statement and policymakers want to make it easier for investors
to compare firms and help bring down the cost of capital by
making markets more efficient and transparent.

Oct 30, 2013

FCA to crack down on fund manager fees

LONDON (Reuters) – Britain’s financial regulator plans to crack down on the 5.2 trillion pound ($8.4 trillion) fund management sector for unfairly making customers pay too many of its costs, its chief executive said on Wednesday.

Asset managers pay brokers commission to cover trading fees and for research to help work out investment strategies, and are allowed to pass the cost on to their own customers, who also pay an investment fund an annual management fee.

Oct 30, 2013

British watchdog to crack down on fund manager fees

LONDON, Oct 30 (Reuters) – Britain’s financial regulator
plans to crack down on the 5.2 trillion pound ($8.4 trillion)
fund management sector for unfairly making customers pay too
many of its costs, its chief executive said on Wednesday.

Asset managers pay brokers commission to cover trading fees
and for research to help work out investment strategies, and are
allowed to pass the cost on to their own customers, who also pay
an investment fund an annual management fee.

Oct 30, 2013

Britain’s financial watchdog plans crackdown on fund manager fees

LONDON (Reuters) – Britain’s financial regulator plans to crack down on the 5.2 trillion pound ($8.4 trillion) fund management sector for unfairly making customers pay too many of its costs, its chief executive said on Wednesday.

Fund managers pay banks and brokers annual fees as well as commission to cover trading fees and research to help work out investment strategies, passing this on to their own customers.

Oct 30, 2013

Financial watchdog plans crackdown on fund manager fees

LONDON (Reuters) – Britain’s financial regulator plans to crack down on the 5.2 trillion pound fund management sector for unfairly making customers pay too many of its costs, its chief executive said on Wednesday.

Fund managers pay banks and brokers annual fees as well as commission to cover trading fees and research to help work out investment strategies, passing this on to their own customers.

Oct 28, 2013

Former central bankers urge better scrutiny of bank boards

LONDON, Oct 28 (Reuters) – Supervisors should focus on
improving boards at top banks now their work on toughening up
rules was coming to an end, a group a report from a think-tank
of former central bankers said.

The 2007-09 global financial crisis unleashed a flurry of
new rules that will force lenders to hold more capital after
many of them had to be bailed out by taxpayers.

Oct 22, 2013

EU agrees preliminary deal to rein in speed traders

LONDON, Oct 22 (Reuters) – The European Union has reached a
tentative deal to rein in the type of ultra-fast trading that
accelerated a plunge in Wall Street stocks in 2010 and set
regulatory alarm bells ringing across the world.

In the Wall Street “flash crash” three years ago, the Dow
Jones Industrial Average dropped about 700 points in minutes,
partly due to the high-frequency traders unloading their
securities as the market tumbled.

Oct 21, 2013

Europe seeks back-up plan for troubled banks within weeks

BRUSSELS, Oct 21 (Reuters) – European states need to spell
out by late November how they will cope with recapitalising
troubled banks to pave the way for prompt health checks, EU
leaders will pledge this week, according to a draft statement.

Such a commitment is designed to persuade investors that
countries are ready to come clean on the banking problems that
continue to dog the region after more than half a decade.

    • About Huw

      "Huw is based in London and covers European regulatory issues and global rulemaking bodies such as the G20, Financial Stability Board, IOSCO, IASB and the Basel Committee. He has covered EU regulation in Brussels, the emergence pan-European stock markets, and has also been a Wall Street reporter in New York."
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