Financial Services Authority
FCA warns of more fines if culture does not change – FX Week Europe
Director of enforcement Tracey McDermott delivers keynote
Benchmark criminalisation won't fix the fix
UK chancellor’s new powers over benchmarks will have little effect without internal changes to curb behaviour, say participants
Trading places, 28 April, 2014
Departures at Isda and BHF Bank, while the FCA employs two senior advisers
FCA best execution review puts 40 firms under spotlight
The FCA's review into best execution practices is set to reveal further malpractice in the retail FX market, say participants
FXCM goes on offensive after £4 million FCA fine
The retail FX broker has criticised other firms in the industry for not passing on price improvements to clients in the week it was fined by the FCA
Regulators urged to extend benchmark probe to the buy side
Investigations into FX reference rate manipulation should extend to the activities of large buy-side firms as well as FX sales desks, say market participants
FX benchmark manipulation: a buy-side perspective
Banks have been caught at the centre of the regulatory probe into manipulation of benchmark exchange rates in recent months, but the scandal could also affect buy-side firms that rely on benchmark fixes. Kathy Alys talks to Patrick Fleur, head of trading…
Trading Places, April 1, 2013
Citi wins an FX options trader from Barclays in London, while ex-FXCM CCO James Sanders moves to First Derivatives in the same role and Legal & General grows operations in Europe
EBS appoints head of market surveillance
Simon Friend joins from the UK Financial Services Authority as EBS continues to expand its global management team
Client funds are safe, claim Cyprus-based FX brokers
Cyprus has become a haven for retail FX brokers in recent years, but the crisis that has arisen from the rejected bailout package this week has unsettled the market
Mifid obstructing cloud computing at European banks
Vendor contracts may not be flexible enough to satisfy outsourcing rules
LCH approved for client clearing on ForexClear
The clearing house expects to begin client clearing for FX NDFs during the first quarter, and has now surpassed $500 billion in cleared volume for interbank NDFs
LMAX management team buys majority stake from Betfair
Management buyout will give LMAX Exchange the necessary flexibility to evolve into a leading FX venue within three to five years, says chief executive David Mercer
Emir clearing deadlines remain a challenge, industry warns
Preparing the necessary documentation for client clearing can take many months and could delay clearing under Emir, warn banks and clearing houses
Margin for longer-dated uncleared FX would be unpopular, FSA official admits
While the idea behind a maturity threshold for FX collateral requirements makes sense to regulators, FSA speaker at FX Week Europe recognises the industry's opposition
LCH.Clearnet bags FX clearing house award
In the inaugural award for best FX clearing house, LCH.Clearnet is voted top for the successful launch of ForexClear, which has cleared roughly 23,000 trades over the past eight months
The jewel in the crown
Despite sweeping changes at a number of investment banks to prepare for regulation and changing market conditions, FX remains a core business for most top-tier banks
UK FSA issues £250,000 in fines for reporting failures
Regulator clamps down on reporting failures. Fines are the first under new FSA penalties policy.
Trade reporting pressure increases as CFTC deadlines loom
DTCC data repository has received provisional CFTC approval, just three weeks ahead of mandatory reporting for credit and rates, with FX reporting due to begin in January
Oakley to leave Thomson Reuters
Financial regulatory head will leave Thomson Reuters at the end of this month after 12 years
Libor manipulation lawsuits could cost banks ‘tens of billions’
Barclays' $450m settlement gives lawyers smoking gun evidence of attempts to tamper with benchmark rates