ASIC Confirms Benchmark Conduct Investigation – Profit & Loss (free story)
The Australian Securities and Investment Commission has released a report outlining the regulatory reforms being pursued in relation to financial benchmarks as well as recommending courses of action for market participants. The report confirms that the regulator is investigating financial institutions over possible breaches of conduct guidelines.
City Watchdog Wants New Regulations to Cover Algorithmic Trading – Financial Times (subscription)
Managers responsible for algorithmic trading should be covered by a new accountability regime as part of a push to include traders working in wholesale markets, the UK’s financial regulator has proposed.
Libor Reform Hasn’t Gone Far Enough: UK Regulator – Wall Street Journal (subscription)
Nearly five years after the emergence of a rate-rigging scandal that cost banks more than $7 billion in fines, the financial benchmark at the heart of the affair remains broken. A top UK regulator says efforts to overhaul the London interbank offered rate, or Libor, haven’t gone nearly far enough.
A Regulatory Upgrade for Electronic Trading by Mark Wetjen – Wall Street Journal (subscription)
In the aftermath of the financial crisis, a quiet debate began among market participants and policy makers – has liquidity evaporated in fixed income markets, or has it simply changed? In either case, why has it and should we be concerned?
Global Asset Managers Fret Over Regulation: Survey – Reuters
Global asset managers see regulatory change as the biggest risk for their businesses over the next 12 months, according to a State Street survey of 400 managers in Asia, Europe and North America.