Month: March 2013

FSA Targets UK Banks Over IRS Mis-selling

If malpractice over Libor fixings wasn’t enough, the banking industry is now likely to be hit by another fine – this time in the UK for mis-selling interest rate swaps. Colin Lambert reports. Britain’s Financial Services Authority says that four of the biggest UK banks have agreed to work with it to investigate cases of […]

Fixing Malpractice Spreads to NDFs

Colin Lambert reports on concerns in Singapore over behaviour surrounding some NDF fixings. With the banking industry already reeling from the discovery of malpractice in money market fixings (see Libor story this issue), evidence of wrongdoing has spread into the FX market with reports that dealers at banks in Singapore colluded to manipulate fixing rates […]

RBS Takes Financial Hit Over Libor

Colin Lambert reports as the Royal Bank of Scotland reaches a deal with regulators over Libor malpractice. The Royal Bank of Scotland (RBS) has been hit with fines from the US Commodity Futures Trading Commission, the US Department of Justice and the UK’s Financial Services Authority, over misconduct by some of its traders surrounding the […]

Out on a Limb? EU Moves Ahead on FTT

Colin Lambert reports as the EU Financial Transaction Tax moves closer… and hears why it probably won’t work. The reality of a Financial Transaction Tax (FTT) in Europe has moved closer after 11 EU countries overcame the objections of some partners to support proposals for the tax on share, bond and derivative trades. In a […]

An Appropriate Code for a Changing Landscape

ACI – The Financial Markets Association officially launched the latest version of the Model Code, at a reception co-hosted by ACI UK and ACI’s Committee for Professionalism in London, in February. Alice Attwood spoke to chair of the CFP, David Woolcock, about the importance of a global directive in our increasingly electronic market. The financial […]

Singapore Prepares to Host ACI World Congress

ACI members gather for the 52nd World Congress this month, and are set for two days of high level debate over the future of markets.  ACI Singapore, which will be hosting the 52nd ACI World Congress from March 14-16, at the Marina Bay Sands Convention Centre has unveiled an extended list of confirmed speakers as […]

FX Concepts’ Bob Savage: THE PHILOSOPHICAL TRADER

Currency funds suffered from the low volatility that defined 2012, but FX Concepts? new Chief Strategist Bob Savage is cautiously optimistic that 2013?s start can be sustained as hot spots around the globe promise to keep things interesting. P&L?s Julie Ros sat down with Savage for a macro view of the markets, and a micro […]