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October 31, 2012
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News on the capital markets, securities and financial industry

  Morning Bell 
  Industry News 
  • Bond dealers assess whether to launch new issues
    Before superstorm Sandy struck, about $30 billion worth of bonds was expected to be launched this week. Now, bond dealers are considering whether to bring new offerings to the market, which is reopening on SIFMA's recommendation. "Everybody is trying to assess the damage and figure out what the implications will be," a syndicate manager said. "The sooner the market opens, the more beneficial it will be to all." The Wall Street Journal/Dow Jones Newswires (10/30) LinkedInFacebookTwitterEmail this Story
  • Analysis: Bair becomes a watchdog after leaving FDIC
    Most banking regulators leave their positions quietly, but Sheila Bair, former chairwoman of the Federal Deposit Insurance Corp., took a different route. She launched the Systemic Risk Council, a nonprofit aimed at pushing stricter oversight and regulation of the financial industry. How successful she will be in her watchdog role is unclear. Politico (Washington, D.C.) (10/30) LinkedInFacebookTwitterEmail this Story
  Washington Roundup 
  • CFTC nears final rules on cross-border swaps
    The U.S. approach to cross-border swaps trading will be finalized soon, said Gary Gensler, chairman of the Commodity Futures Trading Commission. He noted that the CFTC has always honored regulations of other countries when those rules made sense. Concerns were raised this year when Gensler hinted that entities doing business with U.S. companies and all overseas U.S. entities would be subject directly to the Dodd-Frank Act. AutomatedTrader.net (10/29) LinkedInFacebookTwitterEmail this Story
  • FSB urges more bank transparency
    The Financial Stability Board called for more transparency from banks regarding how well they stand up to Basel III capital rules and internal stress tests. "Rebuilding investors' confidence and trust in the banking industry is vital to the future health of the financial system," said a task force of the FSB, which also urged disclosure of off-balance-sheet entities. Complex accounting practices and such entities have been used in the past to avoid regulatory scrutiny. Learn more at SIFMA's Basel III Resource Center. Bloomberg (10/29) LinkedInFacebookTwitterEmail this Story
  • BIS official emphasizes importance of global banking rules
    Concerns about the economic effect must take a back seat to compelling need for worldwide regulation to reduce risk and leverage, which could again imperil the financial system, said Stephen Cecchetti, chief economist at the Bank for International Settlements. "It is also really important that there be global agreement on the standards and that the standards be implemented uniformly and in a timely fashion; otherwise, you run a risk of a race to the bottom," Cecchetti said. The Wall Street Journal (10/30) LinkedInFacebookTwitterEmail this Story
  Asset/Wealth Management Report 
  • Financial advisers become more optimistic
    Financial advisers' confidence, as measured by Rydex AdvisorBenchmarking, increased modestly this month. Meanwhile, State Street's Global Investor Confidence Index showed that institutional investors were the most negative since the index launched in 1998. Advisers' optimism uptick reversed a three-month decline. InvestmentNews (free registration) (10/30) LinkedInFacebookTwitterEmail this Story
  SIFMA News 
  • SIFMA FATCA Symposium -- Nov. 19 -- New York City
    Once the rules implementing the Foreign Account Tax Compliance Act (FATCA) become effective, the 2010 law will fundamentally alter the relationships financial firms maintain with their clients and each other. Join us for SIFMA's FATCA Symposium where key regulators, industry leaders and tax experts will offer an in-depth analysis of the latest published guidance and provide practical insights as to how to best comply with and implement the regulations within your organization. LinkedInFacebookTwitterEmail this Story
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IIAC-SIFMA Canada-US Securities Summit
On Nov. 13th at IIAC-SIFMA Canada-US Securities Summit hear from senior buy and sell side executives discuss the opportunities this two-way trade provides, and the regulatory considerations and concerns that investors and financial institutions face. Register today.
  SmartQuote 
Where there is no imagination there is no horror."
--Sir Arthur Conan Doyle,
Scottish physician and writer


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