Regulation
DoJ closes investigation into Deutsche Bank’s FX activity
US regulator's action is a big win for the bank, but civil suits and a decision from the NYDFS are still pending
Adherence to Global Code of Conduct will reform behaviour
ACIFMA is leading efforts to support education and adherence by making commitment to the Code mandatory for its members
Debelle, Potter, Puth and Salmon – the GCC webinar
FX Week proud to host the four main authors on the day of the Code's release, May 25
ACI mandates members to commit to GCC
Move means over 9,000 individuals around the globe will be required to adhere to the GCC when released
EC draft rejects single source data model for TCA
Under the proposed RTS for the EU’s Priips, financial firms will not be able to use a single source of data to compile transaction cost analysis
Abide Financial boosts professional services team by two
Adrian Gill and Murray Abel will report to Mark Kelly, the head of professional services
Spread-betting groups look east amid regulatory crackdown
As regulators toughen up on spread-betting firms, the race is on to replicate the Japanese model
Nex Optimisation launches regulatory reporting platform
Nex brings several services together into an integrated solution
Ireland proposes ban on CFD trading
Central Bank of Ireland's consultation paper addresses concerns about retail clients losing money on high-risk products
Mercer: Global Code is a great PR stunt; legitimises front-running
LMAX Exchange chief says the Global Code of Conduct is legitimising last look and pre-hedging, and its authors are misrepresenting the nature of discussions in the MPG
Lawyers to search files of 35 Deutsche Bank staff
Includes traders and others who were not part of the production of information given to regulators
CloudMargin joins SmartDX for variation margin solution
Market participants gain a product that will help speed up their repapering agreements
Stakes too high for non-adherence, Puth says
"We expect most market participants will get behind the Code at the time of launch," says the MPG chairman
Regulators relent ahead of VM big bang
Firms with "significant exposures" must stick to March 1 deadline, however
Regulation doesn't get you to a better place than principles
Despite scepticism about the efficacy of the GCC, panellists say regulation is just as hard to interpret and can have unintended consequences
FIA calls on Trump for financial regulation review
Lukken says it's time to know whether the rules implemented after Dodd-Frank are fulfilling their intended purpose
MS and Citi agree to pay $6m in FX fines to SEC
The two firms allegedly failed to make adequate disclosures, leading to significant losses for investors
Comment period prolonged for algo rule proposal
CFTC recognises "the number of questions within" its Regulation Automated Trading suggestion
BestX signs JP Morgan and HSBC as TCA clients
FX analytics firm partners two major dealers for third-party transaction cost analysis
BlackRock settles whistleblowing charges with SEC
The firm used a special clause in its separation agreements whereby staff waived their right to whistleblowing awards
JP Morgan signs with BestX to offer third-party TCA
The bank's clients will be able to access BestX post-trade transaction cost analysis in real time at no extra cost
Ex-Citi trader pleads guilty in price-fixing conspiracy
Between January 2007 and July 2013, Christopher Cummins, a former Citigroup trader in New York, conspired to suppress and eliminate competition in Ceemea currencies
US indicts three in FX probe
Justice Department says the accused UK-based traders face a maximum of 10 years in prison and $1 million in fines
Massad to step down as CFTC chairman
He is set to leave on the day of Donald Trump's inauguration