Regulators tasked with overseeing swaps markets in the U.S. and the U.K. struck a hopeful and conciliatory tone in comments at the SEFCON V conference last week, but market participants were skeptical, with one panelist noting that “hope is not a strategy.” Representatives from the CFTC and the Financial Conduct Authority (FCA) signaled at the… Read More >>
Survey: Asset Managers Make Peace with Regulators
RIMES, a provider of managed data services for the buy side, reports recent survey results showing an “increase in the readiness of asset management firms to deal with incoming and proposed regulation,” and a growth in positive attitudes toward the necessary changes required to meet regulatory demands. The survey, conducted in conjunction with RIMES’ recent… Read More >>
Q&A: No Defined Standards Yet for Derivative Valuations
Manuel Ibarra, who works in counterparty portfolio management at Morgan Stanley, took time out from his schedule to answer FTF News’ questions about the derivatives valuation processes. Ibarra underscores that his answers are his alone and do not reflect the opinions of Morgan Stanley, its parent company or affiliates. Before Morgan Stanley, Ibarra worked as… Read More >>
The Age of SEFs Stumbles Forward
It’s been just over a year since swap execution facilities (SEF) inauspiciously opened for business on Oct. 2, 2013 – “A day that I’ll never forget,” in the words of one SEF operator present at the SEFCON V conference on Wednesday. Panelists at the event, sponsored by the Wholesale Markets Brokers’ Association, highlighted how far… Read More >>
Obama Announces Nominee for SIPC Chairman
Lawyer John E. Mendez has been nominated by President Barack Obama to serve as the chairman of the board of the Securities Investor Protection Corp. (SIPC), replacing Sharon Bowen, acting chair who stepped down in June, officials say. Mendez, a partner practicing in the New York and Los Angeles offices of Latham & Watkins, will… Read More >>
CFTC: Cooperation Key to Cross-Border Clearing Talks
Dual registration combined with cooperation is likely to be the ongoing theme as European and U.S. regulators address the cross-border harmonization problems for global clearing of over-the-counter derivatives, said Timothy Massad, chairman of the CFTC, said in his speech at a Futures Industry Association (FIA) conference last week. “We are continuing to work with the… Read More >>
Fines, Regs Push Firms Toward Legal Entity Data
Post-crisis regulatory reforms are putting immense pressure on financial services firms to overhaul their ability to manage client and legal entity data, an area most firms had been content to ignore until recently, according to a new white paper. Conducted by market research firm Aite Group and commissioned by the DTCC, the paper outlines the… Read More >>
deVere Group Launches New Investment Strategy Unit
The deVere Group has debuted its new investment strategy division, which will be headed by Tom Elliott, the former executive director of JP Morgan Asset Management. Elliott, a 25-year veteran, was appointed deVere’s international investment strategist in 2013. deVere characterizes itself as an independent financial advisory organization, and has 80,000 clients globally and more than… Read More >>
What Will the G.O.P. Do If They Win?
If the votes go well for them on Tuesday, Nov. 4, what will the Republicans do with their new power? In case you haven’t been following the horse-race coverage in the U.S. media, all the signs point to a good night for Republicans on November 4 when the U.S. votes in another pivotal, mid-term election…. Read More >>
SEC Municipal Securities Director to Leave
The SEC reports that John J. Cross III, who, since 2012 served as the first director of the office of municipal securities, will leave the agency in November. Cross is “expected to rejoin the Office of Tax Policy at the U.S. Treasury Department,” according to the SEC. The office of municipal securities was established under… Read More >>
