Regulation
IM big-bang split confirmed with new $50bn threshold
Addition of sixth compliance phase looks set to slash September 2020 in-scope entities by more than half
St Louis Fed warns of rise of multicurrency systems
Crypto assets may hamper monetary policy transmission and increase exchange rate volatility
UBS: last look is sticking around, but conversation evolving
Bank says transparent and open discussion can produce “mutual benefits going both ways”
Regulators plan to delay IM ‘big bang’ – market sources
Most see final phase of initial margin rules coming a year later, in September 2021
Debelle swings at ‘buyer beware’ disclosures in FX
‘They don’t give you free licence to do whatever you want,’ says new GFXC chair
Trump lashes out at Libra
US president says Facebook’s system will need a banking licence if it wants to be a bank
HKMA, PBoC extend CNY access to HK Stock Connect investors
Settling in onshore yuan gives northbound investors access to larger pool of renminbi; liquidity higher and exchange rates less volatile
Asset managers urged to commit to FX Global Code
Firms risk hit to reputation by not signing standards on market practice, investment manager says
Could CFTC bring back Reg AT?
CFTC's new chair could reopen the controversial algo-trading rules – if he gets time
Swiss regulator hunts for hints in Credit Suisse FX probe
Five banks fined, two acquitted as Comco closes market-rigging probes
Buy side said to target sell side with Code compliance
Two years in, buy-side participation remains low, as some cite barriers to the adoption of conduct principles
Court considers ‘Wild West’ practices in HSBC frontrunning case
Seeking to overturn Mark Johnson’s conviction, his attorneys argue he violated no laws or industry norms when trading on behalf of Cairn
China cracks down on illegal FX trading
Market participants call for legal pathways to trade on monitored platforms
Inertia warning if uncleared margin rules delayed
Final phase of rules set to sweep hundreds of buy-side firms into scope in September 2020
Data reveals Emir swaps report matching rates at 40%
Figure is better than some feared, but still calls into question the value of dual-sided reporting
Sef rule reform needs to be targeted: CFTC official
The Sef revamp should continue post-Giancarlo, says Rostin Behnam, but targeted changes would be better than a total rewrite
Hong Kong moves carefully on swaps trading reform
Regulator SFC fears disruption to Hong Kong's position if it forces trades on venue, Isda AGM hears
How the MAS is using AI to spot rogue trading behaviour
Trained using machine learning, the Apollo tool scours trading data for suspicious patterns
CMC posts profit warning; Foley resigns
New Esma margin rules have “resulted in retail clients trading less”, online trading firm says
Singapore’s banks eye internal models for FX desks
New market risk regime dangles capital savings for own-models approach
How Brexit gives FCA a tech mountain to climb
FCA international head says regulator faces huge reporting and data-sharing challenges
FCA slaps permanent ban on binary options
Post-Brexit, the regulator’s ban on the sale, marketing and distribution of binary options to retail investors in the UK will replace Esma’s rules
Carolyn Rogers to be next Basel Committee secretary-general
Canadian regulator will take over from William Coen
EU lawmakers fail to deliver on single-sided reporting
But there is still hope for EU swaps users in future Emir reviews