A draft document shows EU officials have been forced by the UK's withdrawal to reconsider the capital-markets union. Officials also aim to develop an alternative financial market to London, according to the document.
Know Your 2017 FS Regulation for US, EU and APAC Clutch Group's 2017 Regulatory Report consolidates key policy and enforcement trends from 26 regulatory agencies across the U.S., the E.U., and Asia with an introductory letter by Clutch Regulatory Head and former FCA Enforcement Investigator, Charles Hastie.
European Central Bank official Benoit Coeure has warned of a disconnection between currently calm market conditions and brewing political turbulence, which he says could provoke a major market correction.
Deutsche Boerse CEO Carsten Kengeter said at the company's annual general meeting he has focused on foreign exchange, energy, raw materials and other commodity trading, rather than big mergers, since the failed London Stock Exchange Group merger. "But that does not mean acquisitions, partnerships and investments are no longer possible," said Kengeter, who faced criticism from investors regarding the failed merger.
European regulators have called on Deutsche Bank to prepare contingency plans in case of a hard Brexit, in which Britain would leave the EU without a robust deal in place on future trade and cross-border banking, a source said. This eventuality would complicate derivatives dealings, which are predominantly cleared in London, and Deutsche Bank's high exposure to that sector would make it especially vulnerable.
The Greek parliament, in a vote backed by all 153 members of the governing coalition, enacted a bill committing the country to additional austerity measures demanded by its creditors. The action clears the way for the release of more bailout funds and negotiations on debt relief for Greece.
The European Central Bank's public statements "should be adjusted in a very gradual and cautious manner" to avoid touching off extreme market reactions, according to minutes of the ECB's governing council April meeting. Any small change in communication could lead to "premature and unwarranted tightening of financial conditions" due to the lengthy period of relaxed monetary policy, council members said.
The European Commission is expected to recommend in June whether clearing of euro-denominated contracts should be based in the eurozone. Brexit has prompted discussion about the issue since much of the market is based in London.
The China Securities Regulatory Commission is looking at opening futures contracts for a wide range of commodities and raw materials in an effort to encourage more foreign trade and investment, with individual Chinese exchanges also making similar plans. The move is seen as part of China's long-term plan to be more influential in global price setting.
BNP Paribas has injected $63 million in Symphony, a communications platform that will ultimately replace email and voice systems. Symphony Communication Services has already attracted significant investments from a consortium of major financial institutions.
Registration is now open for AFME's inaugural European Compliance and Legal Conference which will bring together a high-level audience to engage with leading industry experts and discuss key issues shaping the legal and compliance functions in the European financial sector. Individuals will hear from the regulators on the latest developments, network with senior legal and compliance officers and discover how their peers and clients are navigating the new market landscape.
This signature conference of ASIFMA will bring together 400 industry-leading professionals and regulators on China's capital markets, with topics across China macro, fixed income, currencies, equities, asset management and regulatory aspects. Register now given seats are limited!
Great artists are people who find the way to be themselves in their art. Any sort of pretension induces mediocrity in art and life alike.