A special committee composed of representatives from the futures industry’s self-regulatory organisations (SRO) has proposed additional requirements to SRO rules and regulatory practices designed to strengthen safeguards for customer segregated and secured funds held at the firm. The special committee,
Two options traders who the Securities and Exchange Commission charged earlier this year with short selling violations have agreed to pay more than USD14.5m to settle the case against them. An SEC investigation found that brothers Jeffrey A. Wolfson and
Kinetic Partners is now offering a global background checking service to complement its investor led fund, fund manager and service provider operational due diligence (ODD) services. Individuals applicable for background investigation may include a fund manager’s chief executive officer,
The Securities and Exchange Commission has charged the US investment banking subsidiary of Japan-based Mizuho Financial Group and three former employees with misleading investors in a collateralised debt obligation by using “dummy assets” to inflate the deal’s credit ratings. The
Guernsey’s much discussed corporate governance code came into effect at the beginning of the year. Carol Goodwin (pictured) highlights its key principles, asserting that good corporate governance is about board behaviour and not always about the rules. Never has so
The Australian Securities and Investments Commission has started proceedings in the Federal Court in Sydney challenging whether Wellington Capital is legally able to distribute shares, as opposed to cash, to the unit holders in the Premium Income Fund (PIF). On
Singapore Exchange is enhancing the rules to strengthen its default management framework to protect its derivatives market against systemically destabilising events, which include the possibility of multiple member defaults. This enhancement follows a public consultation issued in September 2011. Clearing
The Depository Trust & Clearing Corporation and Swift have been named by the Commodity Futures Trading Commission to provide the CFTC Interim Compliant Identifier (CICI) for legal entities involved in OTC derivatives trading. “We are pleased that the CFTC has
The European Securities and Markets Authority has published a review of Greek government bonds accounting practices in the IFRS financial statements for the year ended 31 December 2011. It sets out the results of the review conducted by ESMA on
The European Securities and Markets Authority (ESMA) has published final guidelines on the reporting obligations for alternative investment fund managers (AIFMs). ESMA’s guidelines, which relate to the Alternative Investment Fund Managers Directive (AIFMD), will require AIFMs – including hedge
