Month: December 2008

BIS Appoints General Manager

The Bank for International Settlements (BIS) has appointed Jaime Caruana, the former Bank of Spain governor, as its next general manager. The BIS, which acts as a forum for central banks around the world, said Caruana will start his five year term on 1 April 2009 and will be based in Basel. He will report […]

No Further Analysis of Derivatives Clearing Market: OFT

The UK Office of Fair Trading said last week that it has decided not to undertake any work in the market for derivatives clearing, after inviting views earlier this year (Profit & Loss, June 2008). The OFT called in May for submissions on the broader issue of competition in the market after it concluded that […]

Obama Selects Geithner to Run Treasury

President-elect Barack Obama has chosen New York Fed president Timothy Geithner as the US treasury secretary to succeed Hank Paulson next month. Geithner will relocate to Washington D.C. from New York, where he has headed the bank since October 2003. During the current financial crisis Geithner has garnered attention for his role in the sale […]

Retail Radar

Alpari to Expand in Middle East London-based retail foreign exchange broker Alpari is to launch a regional office in Dubai to attract customers from the United Arab Emirates and the Middle East. 4NExchange Fraudsters Receive Civil Penalties Ponzi scheme vehicle 4NExchange and its two masterminds, Paul Grant and Ronald Bassett, have received orders to pay […]