Friday, October 9, 2015

Let's recap

In case you missed it . . .

CLOs Pinched as Commodities Pain Spreads to Another Debt Market (Oct 7)

Basel May Ax Bank Operational-Risk Models as Conduct Costs Mount (Oct 7)

Four Ways Currency Rigging Transformed the $5.3 Trillion Market (Oct 6)

EU financial watchdogs zoom in on 'big data' use (Oct 5)

Policy Makers Skeptical on Preventing Financial Crisis (Oct 4)

Lawmakers alarmed over EU court ruling on data transfers

Say ruling has caused "unnecessary uncertainty"

(Oct 6) U.S. lawmakers expressed outrage and alarm over a ruling by the European Union's top court that struck down a 15-year-old trans-Atlantic program governing cross-border data flows. In a decision invalidating the program, the European Court of Justice cited concerns that data may be subject to U.S. government surveillance. The ruling has increased pressure for the Obama administration to work quickly with the EU to complete an updated version of the program, which had already been under negotiation.

Dark pools must now report trading volume

SEC approves FINRA proposed rule

(Oct 5) The Securities and Exchange Commission approved the Financial Industry Regulatory Authority's proposed Rule 6110 and 6610 changes to expand its Alternative Trading System Transparency Initiative by publishing over-the-counter equity volume executed outside ATSs. Under current FINRA rules, each member operating an ATS must report its weekly volume, by security, to FINRA, which makes the reported volume and trade count information for equity securities publicly available on its website. The rule change allows for FINRA to also publish the remaining OTC equity ("non-ATS") volume by member firm and security.

U.S. needs more housing financial stability tools

Systemic financial regulation lacking says former Fed vice chair

(Oct 2) Federal Reserve policy makers are more likely to be forced to increase interest rates to cool real-estate bubbles if officials aren't given additional powers to tackle risks to financial stability, according to former Fed Vice Chairman Donald Kohn. "I am particularly struck by the lack of counter-cyclical tools for real-estate credit," Kohn, who is now a member of the Bank of England's Financial Policy Committee, said in a speech on the U.S. macroprudential framework. "In the next housing boom, and one will come, the lack of these tools will force monetary policy to respond to the upswing more than it otherwise would, at the cost of jobs and at the risk of the credibility of its inflation target."

Binge reading disorder

Hand-curated, chosen with love

You Need a Butler. Yes, You Actually Do. (LinkedIn Pulse)

Corporate Boards Are a Boy's Club - and Men Like It That Way (Bloomberg)

Travel Photo Contest Winners 2015 (National Geographic)

The Rise of the Outrageously Long Commute (The Atlantic)

12 Surprising Facts about Nobel Prizes: From prison time to the intricacies of transporting the prize itself, this award can be rife with complications (Scientific American)

Transparency.

Inclusiveness.

Consensus.