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Moody’s Investors Service Appoints Kimball Head of Structured Finance, Cantor as Chief Credit Officer

Moody’s Investors Service has named Andrew Kimball executive vice president and head of its global structured finance business. He has been acting head of the business since July of this year. Richard Cantor has assumed Kimball’s previous role as chief credit officer of Moody’s Investors Service and chairman of its credit policy committee. Michel Madelain,…

CFTC’s Lukken Calls for Three New Regulatory Agencies to Replace SEC and CFTC

Originally appeared in MiFID Monitor Following the debate about regulatory scrutiny of the credit derivatives space that has been ongoing over the last few months, Walter Lukken, acting chairman of the Commodity Futures Trading Commission (CFTC), has now indicated that he wants his own regulatory body and the Securities and Exchange Commission (SEC) to be…

Make Data Management Tangible for Executives in Order to Secure Funding, advises Oppenheimer’s Giordano

If you’re going to take a federated approach to data management in order to solve issues, such as regulatory compliance, Peter Giordano of Oppenheimer & Co. advised delegates at FIMA 2008 that you make your business case tangible by including such things as “neat analytics” or dashboards for the front office, in order to help…

Despite Lack of Standards, Legal Entity Data Will Become Centre of Data Operations

Although standards for legal entity data are likely to evolve over time and become more rigorous, there does not exist today a standard directory of identifiers for legal entities across global jurisdictions, said James Redfern, head of sales and marketing at CounterpartyLink. But with an average of 27% of company records held at financial institutions…

US SEC Eases Registration Requirements for CDS Clearing Counterparties

The US Securities and Exchange Commission (SEC) has indicated that it will ease the registration requirements for the contenders in the race to establish a central clearing counterparty for the credit default swap (CDS) market. According to market reports, the regulator is aiming to expedite the creation of clearing counterparties and standardise the criteria to…

ECB Hosts Meeting on CCPs for CDS Market, Indicates Support for Greater Transparency

Originally appeared in MiFID Monitor Following the meetings last month hosted by the Federal Reserve Bank of New York and the European Commission, the European Central Bank (ECB) has joined the debate concerning the introduction of central counterparties (CCPs) for credit default swaps (CDSs). The ECB hosted its first meeting this week and participants included…

American Bankers Association and SEC Discuss Fair Value Accounting

The American Bankers Association (ABA) is currently engaged in discussions with the Securities and Exchange Commission (SEC) regarding fair value accounting under the current market conditions. The two bodies are conducting the talks during two scheduled roundtable discussions this week. Aubrey Patterson and Randy Ferrell, both representatives from the ABA, have voiced concerns over the…

Euro MTFs Form Group to Develop Symbology for Pan-European Stocks

Originally appeared in MiFID Monitor Three leading and emerging European multilateral trading facilities (MTFs) have teamed up to boldly go where no man has gone before – that is, to create a common symbology for market data on securities traded across Europe’s suddenly and increasingly fragmented markets. Bats European Markets Division, Chi-X Europe and Nasdaq…

SEC’s Cox Calls for Merger of CFTC and SEC

Originally appeared in MiFID Monitor The credit derivatives regulatory turf war that has been ongoing for the last couple of months may soon be over if the proposal by the chairman of the US Securities and Exchange Commission (SEC) for a merger between the SEC and the Commodity Futures Trading Commission (CFTC) is approved. Christopher…

Broadridge Financial Solutions Offers Proxy Statement Data in XBRL Format

Broadridge Financial Solutions has introduced an open source format for interactive proxy statements to XBRL US. Following the announcement earlier in the year by the Securities and Exchange Commission (SEC) that financial reporting statements should be made available in XBRL, the vendor has accordingly adapted its architecture in order to meet the requirements. The proxy…