UK Watchdog Reviewing Regulatory Supervision after Libor Scandal
The UK’s Financial Services Authority (FSA) is reviewing how wholesale markets are supervised following the interest rate-setting scandal, its chairman Adair Turner said on Tuesday. “There are no free lunches, and shoddy wholesale practice is not a victimless act, even …
Lockton Now Trading by ‘e-Accounts’ in London Market
International broker Lockton announced that its London operations have “commenced trading with e-Accounts, the initiative which enhances the electronic submission of accounting entries by brokers to support global business.” Lockton’s Property and Aviation division partnered with Xchanging to successfully test …
BRMA’s ‘Trading Agreement’ Papers Aim for Reinsurance Contract Certainty
The New York-based Broker & Reinsurance Markets Association (BRMA) announced that it has developed and published “a Master Trading Agreement concept that essentially provides one solution for achieving contract certainty.” The two papers – “A Contract Certain Product: Principles [and …