| News on the global financial markets |  |
| Morning Bell |  |  |
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| Industry News | | |
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- Euro zone's economic situation starts to look better
Standing at the brink of a new year, the euro zone is beset by considerably fewer anxieties than it experienced a few months ago, with the prospect for a long future considerably brightened by indications the region is moving forward in a sustainable way. "In 2012, the euro-area leaders finally got the diagnosis right. It wasn't about Greek debt or Irish banks. It was about some very fundamental design flaws that needed to be fixed," said Jacob Funk Kirkegaard, a Peterson Institute for International Economics research fellow in Washington. The New York Times (tiered subscription model)
(30 Dec.)      
| Regulatory Roundup | | |
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- US accounting group wants to be part of international panel
The US Financial Accounting Foundation said it has not yet decided whether to change to international rules, but wants to participate in a committee formed to draft international accounting rules. The US standard-setters could be excluded, limiting America's influence over global standards. Reuters
(29 Dec.)
| Spotlight on China | | |
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- China's central bank sets 2013 goals with a focus on risk
The People's Bank of China outlined a broad set of goals for the new year, targeting risk, stable growth and rebalancing the economy, all while keeping inflation in check. The central bank's focus on risk is thought to reflect mounting concerns over recent non-bank lending and the possibility of defaults that could upset social stability. Bloomberg
(30 Dec.)
- China expanding mutual fund field to insurers and brokerages
In a move to underpin China's equities markets, the China Securities Regulatory Commission plans to let brokerages and the asset management units of insurers establish mutual funds for sale to the public. Requirements will include at least three years of profitability and a minimum of $3.2 billion in assets under management. Bloomberg
(30 Dec.)
| AFME News | | |
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- David Wright, secretary general of IOSCO, and Peter Praet, member of the ECB Executive Board, to deliver keynote speeches at the AFME European Market Liquidity Conference 2013
The European Market Liquidity Conference is a high-profile, unique event in the European trading community calendar which will attract 400+ delegates from buy- and sell-side, fixed income and foreign exchange. Scheduled to take place on 13 February at the Grange St. Paul's Hotel in London. The content is designed and driven by market participants and therefore ensures that debates consist of genuine, in-depth discussion led by experienced, senior speakers.
The conference programme will explore key topics on funding economic growth, the structural changes of FICC and the impact of regulation on liquidity. Both Peter Praet, member of the Executive Board at the ECB, and David Wright, the secretary general of IOSCO, have both confirmed they will deliver keynote speeches at the conference.
Click here to view the full programme for this event and to register your place.
| ASIFMA News | | |
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| Editor's Note | | |
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SmartBrief will not publish Tuesday
In observance of New Year's Day, SmartBrief will not publish Tuesday. Publication will resume Wednesday. Enjoy the holiday!
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