Tuesday, February 14, 2012

NYSE Proposes Listing Rules for Derivatives and Structured Products

Author: David Schwartz J.D. CPA
Nasdaq has proposed new rules for the the qualification, listing, trading and delisting of a broad list of structured notes and other related products. Although the present NASDAQ Rule 5710 includes initial listing standards for equity index-linked securities and commodity-linked securities, NASDAQ's proposal would amend Rule 5710 to add continuing listing standards for equity index-linked securities and commodity-linked securities. Nasdaq has also proposed Rule 5711 which would impose listing standards for a host of other equity-linked, commodity-linked, and other notes.
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Monday, February 13, 2012

Strong and Lasting Recovery Depends on Successful Financial Reforms

Author: David Schwartz J.D. CPA
Dismissing calls to weaken or reconsider global financial reforms, Jaime Caruana, General Manager, Bank for International Settlements, argues that it is more important than ever to continue reforms and see through what has already begun.  Caruana lays out in a recent address before the 2012 ADB Financial Sector Forum four principles he feels should guide these ongoing reform efforts.
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Thursday, February 9, 2012

UK Chancellor of the Exchequer Voices Concerns Over Volcker Rules

Author: David Schwartz J.D. CPA

George Osborne, the UK's Chancellor of the Exchequer, voiced concerns about the potential negative effects the proposed Volker Rule provisions may have on the liquidity of global funding markets and particularly non-US sovereign debt markets.  Osborne communicated these concerns via a January 23, 2012 letter to Fed Chairman Ben Bernanke.

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Monday, February 6, 2012

OTC Derivatives Reform: A 'Sea of Change'?

Author: David Schwartz J.D. CPA
OTC derivatives legislation and clearing reforms understandably have European and US market participants scratching their heads about what this "sea of change" has in store for them and the future of OTC markets.   David Felsenthal, a partner at Clifford Chance LLP, has given the matter some serious thought, and provides some guidance in his January 14, 2012 post at Harvard Law School's Forum on Corporate Governance and Financial Regulation.
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Monday, January 30, 2012

Italian Regulator Extends Financial Sector Short Selling Ban

Author: David Schwartz J.D. CPA
In light of current conditions in the financial markets, CONSOB, the Italian banking and securities regulatory body, has extended its ban on short selling of financial sector stocks.  Initially adopted on August 12, 2011 and subsequently extended until January 15, 2012, the ban has been further extended to February 24, 2012.
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