Tag: Regulation


US Court Dismisses Fraud Claims Against FXCM

A US court has granted a motion to dismiss the legal complaints aimed at FXCM, and certain members of its senior staff, in which the plaintiff alleged that they were mislead about the risks associated with the firms’ agency business model. The complaint, directed at FXCM, its CEO, Drew Niv and its CFO, Robert Lande, […]

CFTC Report Provides Little Clarity on Swaps Rules

The Commodity Futures Trading Commission (CFTC) has issued its final report on the de minimis threshold for swap dealer registration, yet it remains unclear whether the Commission will make changes to this threshold. The current de minimis threshold for swap dealer registration of $8 billion is scheduled to decrease to $3 billion in December 2017, […]

UK Financial Regulation Faces Post-Brexit Equivalence Dilemma

Financial regulations, particularly for benchmarks, are likely to be materially aligned in the UK and rest of Europe by the time Brexit is completed, however obtaining “equivalence” status for the UK might not be quite as straightforward, a number of sources close to the matter told Profit & Loss in recent weeks, with political reasons […]

FEMR Implementation Report Sees “Significant Progress”

The past year has seen “significant progress” in the implementation of the Fair and Effective Markets Review (FEMR) recommendations; however, “the job is far from being done” as a “lack of trust in financial markets” remains and the focus is now on companies and individuals to address issues, according to an implementation report issued today […]

Shift to Reformed Euribor Expected in H1 2017, FSB Says

Implementation of a reformed Euro Interbank Offered Rate (Euribor) is expected to happen in the first half of 2017, according to the Financial Stability Board (FSB). The FSB – which groups G20 financial authorities – has published an update on the process of reforming major interest rate benchmarks at international level on the back of […]

Thomson Reuters and CME to Integrate Messaging Networks

Thomson Reuters and CME Group will connect their instant messaging networks, allowing more than 300,000 market participants to communicate across their platforms. From late Q3 2016 users of Thomson Reuters’ Eikon Messenger and CME’s Pivot Instant Messaging will be able to communicate between the two services, in a move that the two firms say will […]

Abide, Corvil Partner for Transaction Reporting

Regulatory reporting firm Abide Financial and real-time data analytics company Corvil are launching a partnership to deliver end-to-end transaction reporting and reconciliation solutions. The joint effort offers market participants a “complete solution from collection of trade transaction data, normalisation and enrichment across systems and asset classes, to error-checking, reconciliation and publishing of final reports”, the […]

Post-Brexit Uncertainty Dominates Markets

Continued market uncertainty following the UK’s vote to leave the European Union vote has led to a flight to safe haven currencies and raised questions about the future of financial regulation, although corporates appear to be coping well with the volatile trading environment. On one hand, in FX markets so-called “safe haven” currencies continue to […]