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16 October 2012
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News on the global financial markets

  Morning Bell 
  Industry News 
  • Portugal focuses on increasing volume of bond trading
    Market liquidity for Portuguese bonds is the first priority before debt agency IGCP attempts to resume sales of longer-maturity debt, agency Chairman Joao Moreira Rato said. "We shouldn't rush into doing a transaction before liquidity conditions in our markets are getting better," Moreira Rato said. "We need to get the market ready to absorb bigger volumes." Bloomberg (15 Oct.) LinkedInFacebookTwitterEmail this Story
  • "Regulatory crush" worries investment firms, survey finds
    Regulatory changes worldwide are a source of rising anxiety among 24 investment firms surveyed by buy-side advisory Investit. Topping the list is the European Alternative Investment Fund Managers Directive, cited by 53% of respondents, followed closely by the US Dodd-Frank Act, named by 51%. "We are facing a period of regulatory crush; the regulators are struggling to turn the politicians' promises into formal regulation, but in a number of cases, the dates for compliance are not moving," Investit consultant Sarah-Jane Dennis said. The Trade News (U.K.) (15 Oct.) LinkedInFacebookTwitterEmail this Story
  • Analysis: Terminating deal with RBS benefits Santander
    Banco Santander cancelled a deal to acquire 316 Royal Bank of Scotland branches and widen its position in the UK. The move spares the Spanish bank from capital requirements that it finds excessive. RBS, however, must still sell, to comply with an EU mandate that it shed 2 million customer accounts and 4% of its loan book. The Wall Street Journal (15 Oct.) LinkedInFacebookTwitterEmail this Story
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  Regulatory Roundup 
  • IOSCO aims to identify weaknesses in regulatory systems
    The International Organisation of Securities Commissions plans to assess regulatory regimes worldwide to detect weaknesses. The regulator will look at the maximum civil and criminal penalties for a range of financial misdeeds. "The reality is that I think there is a strong collective sentiment that current sanctions regimes in financial markets, in general, are too weak," Secretary General David Wright said. "They do not deter sufficiently, and the combination of a growing number of major financial scandals and public outrage requires that current systems be put now under the regulatory microscope." Financial News Online (U.K.) (subscription required) (15 Oct.) LinkedInFacebookTwitterEmail this Story
  • Wheatley is set to outline approach of new UK regulator
    The UK Financial Conduct Authority, which will be led by Martin Wheatley, is scheduled to launch early next year. Today, Wheatley will explain how the regulator plans to challenge business models and use its powers to ban financial products. "We will make the intervention first, and then we will carry out the consultation and the cost-benefit analysis," Wheatley said at a recent industry event. Reuters (16 Oct.) LinkedInFacebookTwitterEmail this Story
  • Mersch might gain approval this week to join ECB board
    With a pledge to monitor gender balance for top posts in the future, the EU is expected to resolve disagreement regarding the appointment of Luxembourg's Yves Mersch to the European Central Bank Executive Board. Mersch would give Germany's Bundesbank a key ally on the board. Reuters (15 Oct.) LinkedInFacebookTwitterEmail this Story
  Spotlight on China 
  AFME News 
  • Peter Spiegel, Brussels bureau chief for Financial Times, is confirmed as closing keynote speaker at AFME 7th Annual European Government Bond Conference -- 8 and 9 November in Brussels
    The European Government Bond Conference is the ONLY conference of its type, bringing together annually the whole community from the European sovereign-debt market. Participants include key senior representatives from all EU treasuries, central banks, regulators, investors and heads of government-bond trading at pan-European and US banks. Renowned for featuring high-profile speakers and a "by the industry for the industry" programme, the conference is a must-attend event for stakeholders in the government-bond market. Featuring interactive round tables to create informative and frank debate, the conference is an unrivalled opportunity to gather valuable information about what the market really thinks.

    Key topics to be discussed:
    • The Future of the Eurozone
    • Liquidity Provisions: The Market Maker Model Under Fire?
    • Credit Risk: Analysing and Hedging Sovereign Risk
    • Investor Trends: Developments in Liquidity and Portfolio Management
    • Past and Future of Eurozone Common Funding

    View the full programme and register. LinkedInFacebookTwitterEmail this Story
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