Key Wall Street executives called for reform to some trading fees that could be causing market distortions and increased use of dark pools.» Read More
WASHINGTON, Feb 4- U.S. financial regulators have formed a working group to coordinate implementation of the Volcker rule, which bans banks from proprietary trading, top regulatory officials plan to tell lawmakers on Wednesday.
CHICAGO, Feb 3- CME Group Inc has asked a U.S. judge to toss out charges brought by regulators alleging that the exchange operator is liable for two former employees accused of leaking details on clients' trades.
The Financial Industry Regulatory Authority was granted approval last week from the U.S. Securities and Exchange Commission to obtain information on "dark pools," which are private trading venues, and other alternative trading systems, according to a regulatory filing.
Diana Choyleva, director and head of the U.K. service at Lombard Street Research, says the implementation of necessary financial sector reforms in China will be "unpleasant and very difficult" and lead to "below-trend growth."
Jeffrey LeSage, KPMG vice chairman of U.S. tax practices, discusses tax reform and the key concerns facing business leaders. The likelihood of getting any kind of tax reform from Washington is "pretty small," says Lesage.
Simon Maughan, head of research at OTAS Technologies, comments on regulators relaxing Basel debt rules.
Chi Lo, Senior Strategist, Greater China at BNP Paribas Investment Partners, says China's local debt accumulation is unsustainable.
"When I go around to my fellow CEOs, people are frightened about whether you want to invest in the United States," he said.
Hao Hong, MD of Research & Chief Strategist at Bank of Communications International, says the real test of Chinese reform is whether the government can sit tight if growth falls below 7% in 2014.
Kenneth Bentsen, President of the Securities Industry and Financial Markets Association says the U.S. budget deal is a good move towards reducing risk.
The U.S. pledged to keep any trade deal from weakening its regulations, and said it would press to match efforts to make banking and trading safer.
Jim McCaferty, Head of Regional Research at CIMB makes a case for investing in North Asian markets versus their South East Asian peers.
Erwin Sanft, MD & Head of China & HK Equity Research at Standard Chartered expects money to flow back into Chinese markets after Beijing's pro-market reform plans.
Chi Lo, Senior Strategist, Greater China, BNP Paribas Investment Partners and Frederic Neumann, MD & Co-Head of Asian Economics Research at HSBC say shadow banking and credit risks could still rise in the next few years despite China's reform plans.
Jing Ulrich, managing director at JPMorgan, says Chinese reforms should be wide-ranging and reveal the country's roadmap for the coming years and advises investing in services and consumer stocks.
Geoff Raby, Vice Chairman, Macquarie Group China also the Former Australian Ambassador to the PRC speaks about the likely reforms China's leaders may unveil at the Third Plenum.
Uwe Parpart, head of research at Reorient Financial Markets, describes China's housing market as "healthy" and expects some "very important" reforms to be announced regarding interest rates.
Former Rep. Barney Frank said it would be embarrassing and wrong if JPMorgan ended up being compensated by the FDIC.
Robert Pickel, CEO, International Swaps and Derivatives Association says despite the bad reputation that derivatives have been left with following the 2008 global financial crisis, most of the instruments used are safe.
David Costa, Dean at Robert Kennedy College discusses Italy's competitive aspects.