Cantrade Investors Contemplate $15 Million Compensation Offer
BANKS
Cantrade Private Bank Switzerland, a subsidiary of Union Bank of Switzerland, has hired KPMG, a London-based accountancy firm, to negotiate compensation settlements on its behalf for a group of investors who are suing the bank, says Johann Baerlocher, managing director in Jersey, the Channel Islands. The group of investors previously rejected Cantrade's offer of a compensation settlement (FXW, January 20).
Baerlocher says Cantrade's offer (estimated at around $15 million) is to repay all trading
More on Regulation
DRW’s Wilson: regulatory confusion hinders euro stablecoins
Conflicting interpretations of EU rules will divert more capital to USD coins and away from euro assets, says Don Wilson
Emir rule delay leaves Simm paperwork gathering dust
Mid-year refresh triggers Emir 3.0 authorisation process despite unfinished regulatory standards
Tariff volatility pushes banks to tighten close-outs
Lawyers say dealers are looking to update playbooks for terminating derivatives trades
Indonesian CCP seeks thumbs-up from US, UK and Japan
Growing foreign bank interest pushes IDClear to pursue regulatory approval overseas
FX defs look to calculation agents for close-out rates
New Isda rule book also set to streamline ‘impossibility’ standard for disruption events
Iosco pre-hedging review: more RFQs than answers
Latest proposals leave observers weighing new clampdown on pre-hedging
Isda to finalise drafting updated FX definitions this year
New definitions on disruption events and fallbacks are core focus
Iosco mimics industry codes to tackle pre-hedging dilemma
Advocates breathe sigh of relief, but Iosco release carries suggested restrictions
