Reporting/compliance

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/Reporting/compliance

Live: EBAday 2012, day two

Payments professionals from banks across Europe are gathering in Edinburgh this week for EBAday, hosted by the Euro Banking Association and Finextra. We're liveblogging events here.

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Live: EBAday 2012, day one

Payments professionals from banks across Europe are gathering in Edinburgh this week for EBAday, hosted by the Euro Banking Association and Finextra. We're liveblogging events here.

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Surveillance spend to soar as regulators crack down - Tabb Group

Spending on market surveillance programmes covering equities and derivatives trading across Europe will grow by at least eight per cent in 2012, increasing from EUR105 million in 2011 to EUR126 million by 2014, according to research from Tabb Group.

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Markit to buy Cadis

Financial information vendor Markit has agreed to buy enterprise data management (EDM) specialist Cadis. Financial terms of the deal were not disclosed.

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Swift faces lock-out from LEI roll-out

The Financial Stability Board has abandoned plans for a global registration authority for Legal Entity Identifiers in favour of a federated network, dealing a hammer blow to the ambitions of interbank messaging network Swift to play a central role in the roll out of the new standards.

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Nasdaq OMX to buy GRC specialist BWise

Nasdaq OMX Group has agreed to acquire BWise, an enterprise governance, risk management and compliance (GRC) software vendor. Financial terms of the deal were not disclosed.

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EU names and shames national authorities lagging on e-money rule changes

Six EU member states - Belgium, Spain, France, Cyprus, Poland and Portugal - have been threatened with legal action by the European Commission unless they comply with one-year old rules on e-money issuance.

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Regulatory burden weighs heavy on US capital markets firms

Almost seven out of 10 North American capital markets executives believe a significant portion of their firms' resources will be consumed by regulatory burdens and data latency issues, according to a Sybase survey.

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SEC charges optionsXpress over naked short selling scheme

The US Securities and Exchange Commission has charged online brokerage optionsXpress, four of its employees and one customer in connection with a naked short selling scheme.

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Regulators release new market infrastructure standards

International banking and securities regulators have set out new and more demanding standards for operators of payments, clearing and settlement systems as part of an international effort to boost the resiliency of the financial markets.

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EU Parliament votes through OTC rules

European lawmakers have approved tough new rules governing trading in the over-the-counter derivatives market.

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European parliamentarian demands tougher crackdown on HFT

A European Parliament report is calling for the Commission to toughen up its crackdown on high-frequency trading under MiFID II.

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Nasdaq OMX suspends plans for competitive clearing

Nasdaq OMX has postponed plans to introduce interoperable clearing in the Nordic cash equity markets in April, citing regulatory uncertainties.

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FSA fines Coutts £8.75m over AML failings

Coutts, the private bank owned by RBS, has been fined £8.75 million by the Financial Services Authority (FSA) for anti-money laundering systems and controls failings.

/Reporting/compliance

Getco fined $450k over lax HFT supervision

The broker-dealer unit of Getco has been fined $450,000 for failing to properly supervise its high-frequency trading.

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Isitc members to boost IT spending

Financial industry association Isitc says that nearly two thirds of its members plan to increase their information technology spending over the next two years as regulatory compliance continues to dominate the agenda.

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Thomson Reuters fails RIC licensing market test

Thomson Reuters has failed to appease EU antitrust bodies over proposed concessions in the way it licenses the proprietary Reuters Instrument Codes.

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Commission proposes EU-wide settlement overhaul

The European Commission is promising to shake up cross-border securities settlement in the EU by cutting settlement timeframes and establishing a common regulatory framework for the region's 30+ central securities depositories.

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European authorities get two months to affirm HFT governance plans

The European Securities and Markets Authority (Esma) has given national securities watchdogs two months to declare their plans for enforcing new rules on scrutinising high frequency trading activities.

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UK and Swiss watchdogs launch formal investigations into UBS over trading scandal

UK and Swiss regulators have launched formal proceedings against UBS over the £2.3 billion unauthorised trading loss made at the bank last year.