Wheatley to Stand Down as FCA Chief Executive – Profit & Loss (free story)
Martin Wheatley is to stand down as chief executive of the UK’s Financial Conduct Authority with effect from 12 September 2015.
American is Front-Runner to Head Panel of Global Markets Regulators – Wall Street Journal (subscription)
Paul Andrews, a vice president at the Washington-based Financial Industry Regulatory Authority (FINRA), is the front-runner to lead an international committee of markets regulators called the International Organization of Securities Commissions (Iosco), according to a person familiar with the matter.
Greece Debt Crisis: ECB Raises Funding for Greek Banks – BBC
The European Central Bank says it has increased emergency funding to Greek banks by €900 million (£627 million) for one week.
There’ve Been Some Big Moves in Currencies This Week – Bloomberg
Traders in the $5.3 trillion-a-day foreign exchange market are having a busy week as central bank decisions and falling commodity prices drag currencies to multiyear lows. Here’s a roundup of the latest moves.
Forex Trading Chiefs at Citibank, SocGen See Won Extending Drop –Bloomberg
The won will drop to levels last seen in 2012 this year as overseas investors pull money from South Korean assets, say foreign-exchange trading heads.
Bad News for Canada’s Currency is Good News for Many – Reuters
Canadians’ overseas spending power has taken a hit, but the plunge in the Canadian dollar after the central bank cut interest rates on Wednesday to try to revive a sputtering economy is being cheered by a wide array of businesses.
More FX Banks Increase Prime Brokerage Terms, Hurting Smaller Clients –Finance Magnates
As Citi increased its PB fees by as much as 25% after Black Thursday, now ABN Amro reportedly requires $5 million in minimum capital.
How Corporate Cards Mitigate FX Risk – Euromoney
While much has been said about the liquidity, treasury data and risk management benefits of commercial cards as a source of supply chain financing and cash management – as opposed to merely being used for expenses – the FX benefits should not be understated.