Foreign Exchanges

News & Analysis as of

EU Legislation on Indices and Recognized Exchanges under the Capital Requirements Regulation

Implementing Technical Standards listing the main indices and recognized exchanges for the use of eligible collateral in accordance with the Capital Requirements Regulation was published in the Official Journal of the...more

2016 Mid-Year Global Cartel Enforcement Report

Cartel enforcement activity promises to remain busy In the coming months and into 2017 Cartel enforcement remains a priority for competition authorities around the world. Global cartel fines totaled more than $6...more

Your daily dose of financial news - The Brief – 8.26.16

Plaintiffs in the Forex MDL currently in NY federal court argued this week to Judge Lorna Schofield that the 2d Circuit’s recent ruling dismissing some plaintiffs in an aluminium price fixing suit did not apply to rob them of...more

Orrick's Financial Industry Week in Review

Agencies Issue Proposal on Method to Adjust Threshold for Exempting Small Loans from Special Appraisal Requirements - On July 22, 2016, the Consumer Financial Protection Bureau, the Federal Reserve Board and the Office...more

Brexit – what can private equity funds do to hedge against sterling risk?

We have seen a dramatic increase in interest in hedging FX risk related to investments by private equity funds. The precipitous decline in the value of sterling has caused complications for funds which are in the process...more

Your daily dose of financial news - The Brief – 6.15.16

A nasty May jobs report and fears about China’s markets have probably done in any plans the Fed had to raise rates in June [though maybe it shouldn’t wait much longer]. Here are the 5 things we should be watching when the...more

Trade & Manufacturing - June 2016

President Obama Signs American Manufacturing Competitiveness Act of 2016 - On May 20, President Obama signed the American Manufacturing Competitiveness Act of 2016 into law (the Act). The Act restores the ability of the...more

Can Fintech Startups Carry Out Crowd-Funding in Hong Kong?

What is crowd-funding? “Crowd-funding” is an umbrella term describing the use of small amounts of money, obtained from a large number of individuals or organisations, to fund a project, a business or personal loan, and...more

Treasury Report Identifies Countries Whose Currency Practices Warrant Close Monitoring and Assessment

On April 29, the U.S. Department of the Treasury (Treasury) Office of International Affairs issued a report to Congress entitled “Foreign Exchange Policies of Major Trading Partners of the United States.” The semiannual...more

Corporate and Financial Weekly Digest - Volume XI, Issue 22

BROKER-DEALER FINRA - Issues Guidance With Respect to Stop Orders and Volatile Market Conditions - On May 26, FINRA issued guidance encouraging firms to review their policies with respect to the use of stop orders...more

New Regulations on the Investment in the Interbank Bond Market by Foreign Institutional Investors

The State Administration of Foreign Exchange (“SAFE”) issued a Notice on Foreign Exchange Administration Issues concerning Investment in the Interbank Bond Market by Foreign Institutional Investors (the “Notice”) on May 27,...more

Traders and Compliance Professionals Take Note: Phase One of New BIS “Global Code” Establishes “Best Practices” in the Foreign...

Limitations on Use of Confidential Information is Prominent in the New Standards Continuing Recent Enforcement Trend in the Commodities and Derivatives Markets - On May 26, 2016, the Foreign Exchange Working Group...more

Changes to the NBU anti-crises measures (Ukrainian)

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Changes to the NBU anti-crises measures

As from 11 May 2016 the NBU Board Resolution No. 308 dated 5 May 2016 (the “Resolution”) takes effect. The Resolution amends the existing “anti-crisis” NBU Resolution No. 140 dated 3 March 2016 and abolishes a number of...more

Financial Regulatory Developments Focus - March 2016 #3

In this week's newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more

UK Financial Regulatory Developments - March 2016 #16

Lloyd’s reports on complaints handling rules - Lloyd’s has published the March edition of its Conduct Standards Newsletter. It provides updates on recent changes to the complaints handling rules and requirements. It also...more

UK's Serious Fraud Office Closes Foreign Exchange Investigation

The Serious Fraud Office announced that it had closed its investigation relating to allegations of fraudulent conduct in the foreign exchange market. The SFO has concluded there was insufficient evidence for a realistic...more

Dismissal for Sharing Confidential Information Was Unfair

In Stimpson v Citibank N.A. ET/3200437/15, Mr Stimpson brought claims for unfair and wrongful dismissal after being dismissed without notice by Citibank N.A. (Citi) for an alleged breach of Citi’s policies on confidential...more

Your daily dose of financial news The Brief – 2.19.16

Barclays has agreed to pay $50 million to settle claims by Plaintiff Axiom Investment Advisors that it “misused a system intended to block stale foreign exchange prices as a way to boost the bank’s profits while hurting...more

Legal Trends: Financial Services Regulatory

Fintech is the single hottest topic for 2016 and the foreseeable future. From mobile payments to paperless processes to block-chain technology, the increased use of emerging and innovative technologies to pay for or obtain...more

Your daily dose of financial news The Brief – 1.4.16

Welcome back. Let’s get right to it. With the new year only a few days old, there’s still plenty looking back going on. Here’s some analysis of the monumental year in deals—all $4.7 trillion-worth—that was marked not...more

ECJ rules on FX part of foreign currency loans

ECJ has ruled in the case of Banif Plus Bank Zrt. v. Marton Lantos and Martonne Lantos. ECJ held that foreign exchange (FX) transactions which are part of foreign currency denominated loans do not constitute an investment...more

European Court of Justice Ruling on Scope of MiFID

The European Court of Justice (ECJ) has held in the case of Banif Plus Bank Zrt. V. Marton Lantos and Martonne Lantos (Case C-312/14) (3 December 2015) that foreign exchange transactions which are part of foreign currency...more

CFTC Exempts a Japanese Clearing Organization and Korean Exchange From Derivatives Clearing Organization Registration

The Commodity Futures Trading Commission has issued separate orders of exemption allowing the Japan Securities Clearing Corporation (JSCC) and Korea Exchange, Inc. (KRX) to clear interest rate swaps without registering as...more

Upper Tribunal grants extension to refer

The Upper Tribunal has granted an application to extend the timeframe in which an applicant could refer their notice to the Tribunal. Whilst acknowledging that the case was borderline, the Tribunal granted the application due...more

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