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September
Brussels is discussing a radical overhaul of pan-EU short-selling regulations
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Europeans are divided over the extent of the powers to be granted to the EU's supervisory authorities
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France is seeking increased oversight of European commodity derivatives markets to curtail price volatility
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August
The Commodity Futures Trading Commission has issued new rules for the retail foreign exchange market
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The hedge fund association, AIMA is set to engage with US authorities on the Dodd-Frank Act
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The credit crisis exposed serious systemic flaws in the processes and business models of the credit rating agencies. Since then, the agencies have undergone reforms, driven internally and now from the regulators too. So, what has changed?
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A class action lawsuit has been filed against Northern Trust in the US.
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The Indian market regulator has expanded disclosure norms for derivative investments and set exposure limits for mutual funds
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The Federal Reserve Bank of New York has expanded its list of counterparties used for reverse repurchase agreements to add money market funds
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OneAmerica Funds has appointed BNY Mellon Asset Servicing
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The International Islamic Financial Market (IIFM) is looking to set up Shariah-compliant repurchase agreements to help Islamic banks manage funds and boost trading
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Andrew Donohue, the mutual fund regulator of Securities and Exchange Commission (SEC) is resigning from his role
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Morgan Stanley has unveiled its first Ucits III complaint hedge fund
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Aberdeen Asset Management’s Asia unit has been granted regulatory approval to invest in Chinese securities
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Singapore Mercantile Exchange has received approval to operate as an international commodity and currency derivatives exchange
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The fragmentation of US stock trading across 50 venues dominated by computerized traders is hurting investors, say executives
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Chile is planning a new derivative law changes
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Dutch pension funds fear consequences of proposed EU rules on derivatives and market infrastructure
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A UK Court of Appeal has ruled in favour of Lehmans PB clients with unsecured assets
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EU regulators calls for wide-ranging reforms for the European ETF market
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July
The UK's Financial Services Authority is planning to expand bonus rules to include all banks, asset managers and hedge funds
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Portugal’s debt agency is looking to post collateral to the commercial banks it trades derivatives with
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The UK has proposed to bring clearing houses under the direct supervision of the central bank
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Japan will extend a ban on naked short selling until October 31, 2010
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The Commodity Futures Trading Commission is formulating new rules as part of the financial reform bill that gives it authority to police most over-the-counter swaps
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The Chilean government is planning new laws to govern different types of financial funds to simplify the legal framework
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Chancellor George Osborne's budget is analysed and the possible impact it could have for banks examined
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ICMA’s European Repo Council (ERC) today published a White Paper on the European repo market outlining the need for reform of the market infrastructure
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The National Futures Association is looking to expand its oversight to cover mutual funds sold to retail investors
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Germany has approved a diluted bill banning naked short-selling on certain securities
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Bonuses paid to hedge fund managers will be restricted as part of a new EU legislation
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Taiwan has been heralded as a prime example of an emerging market doing all the right things to put itself on the international stage
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Premier Global Securities Lending today branded a lawsuit brought by State Street against its co-founder and two employees as “meritless”
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June
Germany has toned down a bill that bans ‘naked’ short selling of all stocks and euro-currency derivatives
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The Ucits IV Directive may yet fail in its objective to harmonise the pan-European tax treatment of funds
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EU officials and diplomats have failed to come to an agreement over new controls for hedge funds
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Greece has stretched a short-selling ban on its shares listed on the Athens bourse
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The International Securities Lending Association (ISLA) is urging consistent and proportionate regulation for short selling, in response to a current European Commission (EC) consultation exercise
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BM&FBovespa has chosen Citigroup’s Brazilian unit to manage the trading of receipts representing global companies
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Global Investor/isf looks at the crisis in the Eurozone government bond markets and the regulatory and structural problems that has highlighted
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South Korea is planning to increase a limit on foreign banks usage of currency derivatives
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The national securities exchanges and the Financial Industry Regulatory Authority (FINRA) have proposed rules to clarify the process for breaking erroneous trades
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The Securities and Exchange Commission is planning stricter disclosure rules for target-date mutual funds
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A new EU agency will play a key role in deciding which over-the-counter derivatives contracts must be cleared centrally
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The Securities and Exchange Commission, Quebec Autorité des marchés financiers (AMF) and the Ontario Securities Commission have signed a regulatory cooperation agreement
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Senate Agriculture Committee chairman, Blanche Lincoln, has agreed to amend a proposal to limit derivatives trading following concerns raised by regulators
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Basis Yield Alpha Fund, an Australian hedge fund, is suing Goldman Sachs for $1bn
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A second investigation into equity underwriting fees in the UK has been launched
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The Securities and Exchange Commission has approved the stock market “circuit breaker
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Paris and Berlin have asked the the EU to tighten financial regulation and clamp down on short selling
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China Securities Regulatory Commission (CSRC) has approved five more securities firms to participate in the pilot programme of margin trading and short selling
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The German government has approved a proposal to extend a ban on speculative trades
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May
Canada is planning to set up a national securities regulator to boost competitiveness of the nation’s capital markets
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The Australian Tax Office (ATO) has postponed a ruling on how private equity firms should be taxed
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Citi’s Global Transaction Services is launching a complete range of services designed specifically to help fund clients comply with new money market rules put forth by the SEC.
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Germany is looking to extend a ban on naked short selling to cover more stocks and derivatives
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Later this year strict new tax rules surrounding the trading of derivatives will come into effect
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The European Parliament’s Economic and Monetary Affairs Committee has proposed a complete ban on naked short selling
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Standard & Poor’s today announced the launch of the S&P International Corporate Bond Index
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AIMA has expressed concern that many of the AIFM proposals are impractical and unworkable
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The Commodity Futures Trading Commission will set up a technology advisory committee to review high-frequency trading
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The German regulator has banned naked short-selling of eurozone sovereign debt, credit-default swaps and other stocks
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The Securities and Exchange Commission has proposed a stock-by-stock circuit-breaker rule
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The European Parliament has backed new stricter rules for hedge funds and private equity firms
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Fitch Ratings says today in a newly-launched global report that credit ratings are stabilising across most sectors
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US task force of banks and investors is proposing reforms to the $1.7 trillion tri-party repurchase market
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Alts industry bodies in last ditch effort to avert AIFM directive
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The Financial Industry Regulatory Authority has fined two banks a combined $925,000 for violating short-sale rules
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The IMF proposal that banks should pay two new taxes to cover any future bailouts has some wide reaching consequences
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The UAE is planning to bring derivatives and short-selling to local exchanges, as Dubai and Abu Dhabi seek to attract international investors
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New research shows that large US companies support the imposition of tighter capital reserve requirements on banks, even if the new rules increase their own funding costs.
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The German chancellor Angela Merkel has predicted hedge funds will soon be governed by new rules
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The US Securities and Exchange Commission and the Commodity Futures Trading Commission are assessing “unusual trading,” which led to a drop in equity markets yesterday.
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European Union lawmakers are nearing a deal on hedge fund regulations
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The EU is considering whether most trading in currency derivatives should be routed through clearing houses
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The Financial Industry Regulatory Authority (Finra) is extending its surveillance powers
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Goldman Sachs will settle charges that it violated a rule linked to short-selling of stocks
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The European Parliament’s Legal Affairs Committee supports proposed changes to the Alternative Investment Fund Managers Directive
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Germany has tightened rules concerning short-selling and take-overs
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April
CME Group is opposing a Commodity Futures Trading Commission plan to limit speculative energy trading by hedge funds, investment firms, banks and oil companies.
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Goldman Sachs chief executive Lloyd Blankfein told a US Senate subcommittee that learning of SEC charges against his company was "one of the worst days in his professional life" but he denied any wrongdoing.
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The Monetary Authority of Singapore has tightened supervision of the fund management industry
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Greater governance of alternative investments could result in an increased allocation to the sector
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Hong Kong Securities Clearing Company (HKSCC) has admitted over-the-counter (OTC) structured products and equity linked notes (ELN) to its list of eligible securities.
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Japan’s Financial Services Agency will renew tighter rules on short-selling for a fifth time
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Goldman Sachs executives will appear in front of a congressional committee tomorrow morning to answer questions on allegations of fraud.
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Senator Charles Grassley has approved a derivatives bill by the Senate Agriculture Committee.
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The Monetary Authority of Singapore is reviewing the fund management industry, including hedge funds and private equity firms.
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Standard Chartered announced today that the Brazilian Central Bank has given Standard Chartered Brazil final authorisation for the bank to begin investment banking operations there.
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Cantor Futures Exchange has received approval from the Commodity Futures Trading Commission to operate as a contract market.
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ABN Amro has moved its Middle East private banking operations into the Dubai International Financial Centre
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The London Pension Fund Authority has published proposals to reform and secure the future of the Local Government Pension Scheme
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France is looking to limit derivative holdings and leveraged positions of commodity traders to control volatility in the G20 nations.
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Goldman Sachs today labeled charges of fraud brought against it by the SEC as “totally unfounded in law and fact” and vowed to defend itself.
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Goldman Sachs saw its shares drop significantly upon the news that it has been charged with fraud by the SEC.
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A leading securities litigator says that the SEC’s decision to charge Goldman Sachs and one of its vice-president with fraud could have a far reaching impact on the whole of Wall Street.
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Goldman Sachs has been charged by the SEC with fraud.
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The Securities and Exchange Commission has voted on a proposal to identify large trades carried out at lightning speed
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A European lawmaker is proposing new rules that will require fund managers outside the European Union to follow EU rules before being allowed to accept investments from the region.
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France has urged the European Union to set up its own Commodity Futures Trading Commission
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The Reserve Bank of India has allowed foreign funds to use their government bond holdings as collateral for stock market transactions
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The EU has granted exemption to industrial companies from rules requiring mandatory clearing of over-the-counter derivatives
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The Federal Reserve Bank of New York is planning to allow money-market funds to participate in the reverse repurchase market without violating liquidity rules.
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The National Bank of Abu Dhabi (NBAD) has secured a licence to practice “securities custody” activities of securities listed on local markets.
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US regulators are planning a rule to track transactions by high-frequency trading firms to improve oversight of their activity.
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European Union markets regulators are reviewing trading practices, including “high frequency” trading.
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The European Union’s financial markets chief, Michael Barnier, may draft specific curbs on sovereign credit default swaps (CDS) in October.
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The Greek crisis, which is threatening to repeat itself across Europe, has pushed sovereign risk centre stage, forcing the markets into a review of investment policy
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Spread betting firm, IG Group, has received regulatory approval to start operations in the US.
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The US commodities regulator has approved a final rule to protect customers of over-the-counter (OTC) derivatives positions and collateral if their futures broker goes bankrupt.
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The Shanghai government is planning a pilot scheme to make it easier for foreign investors to access local private equity funds.
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March
The investment process is being aligned more closely with the needs of long-term investors
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The Securities and Exchange Commission (SEC) has asked over 20 financial and insurance companies to disclose details regarding repurchase agreements.
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The Committee of European Securities Regulators is planning to introduce new rules that expected to limit leverage for Ucits funds
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Global regulators, working under the guidance of the Bank of International Settlements, have proposed measures for securities financing and derivatives trading.
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Global regulators, working under the guidance of the Bank of International Settlements, have proposed measures for securities financing and derivatives trading.
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The UK Chancellor announced today in his Budget Report that HMRC will work with the industry to amend the fund-specific Schedule 19 Stamp Duty Reserve Tax regime.
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Reserve Bank of India has asked market participants to report repo trades in corporate bonds to clearing corporations for settlement.
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In one of the largest UK insider dealing crackdowns, six men were arrested.
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European asset managers picked out a package of reforms that they believe will regain the confidence of investors and build a sustainable long-term savings sector
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The Futures Industry Association (FIA) has opposed the Commodity Futures Trading Commission’s (CFTC) plan to reform trading in commodity markets.
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Senator Ted Kaufman has delivered a strongly worded speech criticising some of the conduct which he says led to the financial crisis.
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Basel Committe's proposed rules on capital and liquidity may be watered down
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EU finance ministers fail to reach agreement on new rules for hedge funds and private equity firms
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Eurex has received regulatory approval in Québec to provide its complete range of products in the Canadian province.
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Four European Union states are asking for all European trading in credit default swaps to be carried out on transparent exchanges
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UK and France seek compromise deal over the European Union’s proposed hedge funds reforms
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The credit crisis has prompted a rethink around regulation and how more stringent and transparent guidelines can deter future market traumas. But will recent regulation changes help or hinder the market in years to come?
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The Commodity Futures Trading Commission (CFTC) chairman is calling for new regulations for credit default swaps.
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The proposed European Union private equity rules may bar EU investors from investing in funds based outside the region.
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The Australian Securities and Investments Commission has postponed the short-selling reporting deadline from April 1 to June 1
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The Volcker Rule being proposed by the US government includes a provision that may separate investment management from custody, securities or prime brokerage services
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The German financial regulator has introduced stricter short selling disclosure rules for 10 financial sector companies
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Luxembourg has suffered a set back in its efforts to develop its status as a domicile for the EU’s Ucits-compliant funds
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The AIMA has issued a statetemnt on short selling.
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Up to seven Chinese brokerages will get licences for margin trading and short selling in China
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The financial regulator of Hong Kong has launched a new short selling disclosure regime
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February
The Alternative Investment Management Association has welcomed the verdict by the UK's Financial Services Authority that hedge funds do not pose a systemic risk.
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Socialists in the European Parliament are looking to restrict the amount of debt private equity firms can load on to companies in buyouts
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Austria’s Financial Market Authority has extended a ban on naked short-selling of shares
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The French finance minister is seeking tougher regulations for the sovereign credit default swaps (CDS) market
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Mexican pension fund regulator, Consar, will ease investment rules
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The Risk Management Association has named a new director of securities lending and market risk, effective today.
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Spain has recommended the proposed rules to regulate hedge funds and private equity groups should be toughened
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AIMA is concerned that a protectionist measure within the AIFM directive has been re-instated
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Standard & Poor’s Fund Services has assigned ratings to two Global GCC Funds.
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A US Senate Committee on Banking, Housing & Urban Affairs has heard that the Federal Reserve (Fed) should be given more powers to regulate banks.
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The U.K. Treasury has blocked a loophole in a corporate tax law.
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The UK financial watchdog's CEO is stepping down
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State Street in its latest Vison report, focuses on the UCITS directive.
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A Bank of England panel says draft EU hedge fund rules will lead to “systemic failure and market disruption”
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The Securities and Exchange Commission will look at ways to restrict short selling and improve market surveillance
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The most likely candidate for upgrading from frontier to emerging market status is Saudi Arabia, readers say
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The Investment Management Association (IMA) is planning to introduce a new fund regime
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Iosco and CPSS are speeding up a review of derivatives clearing houses
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January
The US Securities and Exchange Commission is finalising rules to lower the risk and volatility taken by money market mutual funds
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A new government bill may improve the Kuwait capital market system
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The tax authorities in Seoul are planning to levy a capital gains tax
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The Securities and Exchange Board of India has expelled Société Générale from the Indian equities market
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The Futures and Options Association (FOA) has created a lobby group to deal with regulatory issues related to exchanges, clearing houses and brokers in listed derivatives markets.
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The Commodity Futures Trading Commission will vote on a proposal to curb energy speculation
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China has received approval from its State Council to float stock index futures and for a trial programme involving short selling and margin trading of stocks
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The new Ucits IV directive is not bringing the operational cost reductions many European investment fund asset managers had assumed
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Financial Services Authority, the UK regulator, is looking to revamp rules regarding the liquidation of authorized unit trust
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US and UK regulators have apparently backed away from previous commitments to forcing most OTC derivatives transactions onto centralised exchanges
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The UK chancellor Alistair Darling announced the introduction of a new tax on bonuses paid by banks
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The new tax on bonuses announced in the UK target the banks employees but, as ever, the law of unintended consequences applies