Legal
UBS wins approval for €32bn Brexit swaps transfer
Decision tests boundaries of deposit-taking element, after Barclays had part of its earlier transfer rejected
Caveats and slapped wrists in Barclays’ Brexit swaps switch
Judge blocks transfer of some trades from non-deposit taking entity and slams “unrealistic” timeline
Basel haircut floors threaten securities financing desks
Banks fear capital hit unless regulators provide exemption for stock borrowing
Isda seeks consensus on CDS clean-up
Credit definitions amendments expected in Q1 to stamp out manipulated triggers
Risk Markets Technology Awards 2019: Vendors enter the pick-and-mix era
Modular tech and micro-services – plus new risk and regulatory needs – are creating openings for insurgents and incumbents
The initial margin challenge – Why the bang just got bigger
With uncertainty abounding as the industry heads into the final phases of implementation of the uncleared margin rules (UMR), Jean‑Paul Botha, delivery lead of financial trade documentation at Thomson Reuters Legal Managed Services, explores the…
Libor to become third-country benchmark under no-deal Brexit
UK-based reference rate would need to gain EU approval by end-2019 to avoid “unthinkable” disruption
Local laws may save legacy swaps from Brexit migration
Exemptions from local authorisation may open a backdoor to servicing UK-EU contracts after Brexit
Safeguarding liquidity in a changing environment
Nick Gant, head of fixed income prime brokerage for Europe, the Middle East, Africa and Asia-Pacific at Societe Generale Prime Services, discusses banks’ evolving responsibilities for providing liquidity in a post-financial crisis environment in which…
Legal woes drain Barclays' capital
A $2 billion fine from the US Department of Justice contributed to a 60bp CET1 capital ratio decline
Brexit: banks take the ‘no’ out of novations
Swaps clauses stop end-users blocking counterparty switch, making it easier to move trades to EU affiliates
Derivatives close-out netting nears approval in India
Legislation expected early next year will clarify that local banks can use technique, say lawyers
Basis risk looms for insurers in Libor transition
UK insurers may need to pay more and run basis risk to hedge interest rates after transition
Banks claim front-office content is safe from Mifid II
Work of ‘desk analysts’ is not research, banks argue; lawyers are not so sure
Monthly op risk losses: Aequitas faces $192m loan settlement
Breakdown of top five loss events, plus ECB’s Ireland fine and mortgage losses in Spain. Data by ORX News
Rethinking risk management in the age of cognitive computing
Content provided by IBM
Swap 4175: how a hedged loan became a €600m dispute
City of Linz v Bawag case underlines risks in municipal derivatives
Law firm of the year: Stephenson Harwood
Small is beautiful for the regulatory litigation practice, representing banks in high-profile cases
Response to banker recklessness needs work – lawyers
Current offence under Financial Services Act 2012 is "unprosecutable"
Investors unwise to rely on side-letter transacted with manager
Caymans court: question manager's authority and letter’s interaction with fund constitution
EU SFT rules on collateral consent create legal conundrums
Reuse, title transfer, reporting and derivatives in scope scrutinised
How to kill a zombie - before regulators step in
What to do with funds holding illiquid assets past their original maturity date
Beneficial ownership of assets under scrutiny in divorce
Disclosure orders lift corporate veil against third-party businesses