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EULIBOR: EU unveils benchmark intervention powers
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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

18 Jul
2013

The Faulty Riskometer: The IMF’s flawed risk toolkit

The IMF has released a working paper on Systemic Risk Monitoring detailing the policy options and methodologies available to regulators to accurately measure systemic risk. The problem is that, although touted as being a practical guide, none of the options given are a solution to the problem of “how can we measure systemic risk?” “The Read More

29 Apr
2013

Newsflash: IT to keep banks from meeting Basel deadlines?

In recent months, the number of high-profile figures championing the BCBS’ Risk Data Aggregation Principles has increased dramatically. Add to those the voice of Forbes’ Tom Groenfeldt, author of a popular column for the magazine on the crossover between technology and finance.  In his most recent article, Groenfeldt identifies some key implementation issues for banks Read More

29 Jan
2013

EU bank IT spending: growing by … 0.4% in 2013?!

Over the past five years, the G20 has rolled out one of the largest technology and operations projects the financial system has ever seen. National regulators have issued multiple, often conflicting, regulations with differing technical standards, leaving firms sweating to upgrade their legacy systems to keep pace with change demands. Today, a report produced by Read More

16 Nov
2012

Regulating computer trading: the path to data standards?

The UK’s Foresight Commission report on HFT has finally heard the industry’s call for clear, shared data standards across the financial system. However, it remains to be seen whether Europe – or the world – has the stomach to realise this vision. After a series of dramatic computer trading glitches across the globe, most recently Read More

11 Oct
2012

Check your SYSC benchmarks

The Office of Compliance Inspections and Examinations (SEC, FINRA, NYSE) has released an assessment of 19 firms regarding their controls to prevent misuse of material, non-public information. While not legally binding, this development is important because this is the first comprehensive statement in years regarding a regulatory view of a firms systems and controls for Read More

10 Sep
2012

HFT: On the brink of definitive new controls?

  • 10th September 2012
  • RegTechFS

Thanks to technological hiccup after technological hiccup, High Frequency Trading (HFT) remains a permanent fixture in the financial press. With each blip, regulators and politicians promise to regulate HFT, but how they are going to put effective controls in place is still an open question. Despite the noise, the issues with HFT remain the same. Read More