Go to top
No Madoffs please: What does US government shutdown mean for enforcement and rulemaking?
Archive
03 Oct
2013

No Madoffs please: What does US government shutdown mean for enforcement and rulemaking?

On 1 October, the US government failed to reach an agreement on appropriate budget levels and a nationwide shutdown of federally funded entities ensued.  Clearly enforcement actions are going to take a hit.  But what effect will this have on the rulemaking process, especially given that we are in the middle of a delicate balancing Read More

27 Sep
2013

One footnote to rule them all: Close reading of the CFTC’s SEF rules reveal a controversial requirement

If you thought the debate on swaps reform in the United States was settled, you were wrong. A new row has emerged between the Commodities and Futures Trading Commission (CFTC), international regulators, and firms as the definition of who is a Swap Execution Facility (SEF) has been greatly expanded under a controversial footnote in the Read More

19 Sep
2013

EULIBOR: EU unveils benchmark intervention powers

By: Conor Foley & Anna Sedzik.  This memo summarises key provisions of the draft proposal for a Regulation of the European Parliament and of the Council on indices used as benchmarks (IBR) and next steps in the legislative review process.1 1. Key point summary (1) If adopted, the proposed legislation would apply to all benchmarks that are Read More

26 Mar
2013

Survival of the quickest: The implications of Germany’s new HFT law

The long anticipated and much discussed new German high-frequency trading (HFT) law is now formally with us. In brief, Germany has introduced an authorisation regime for entities conducting HFT, but with significant extra-territorial consequences. The law has been passed by the Bundesrat and waits to be signed into law by the German President (probably at Read More