Banking and Capital Markets Insight – November 2012

Banking and Capital Markets Insight – June 2012



Welcome to the November edition of Banking and Capital Markets Insight, which focuses on technical issues currently coming out of the banking, capital markets, securities and fund management arenas.

Key findings

Our articles cover the following diverse areas:

  • Mark Kennedy and James Paul on the importance of drafting a clear Tax Policy to articulate the tax goals, standards, accountabilities and reporting, both internally and externally, of a financial services firm and to meet the governance expectations of regulators and tax authorities;
  • Kush Patel on the International Accounting Standards Board's new 'general' hedge accounting model, which was issued in near final form in September 2012. The model introduces a principles based test for hedge effectiveness, which replaces the current 80-125 percent quantitative test, and a fair value alternative where firms economically only hedge the credit risk elements of transactions, where certain credit risk hedging conditions are met;
  • Manmeet Rana on the European Parliament’s proposed amendments to the European Commission’s Level 1 MiFID II proposals ahead of the ‘trialogue’, which include significant changes for firms providing sponsored access to markets, commodities firms, the requirement for position limits for cash and physically settled commodity positions, and some relaxations on the proposed ban on inducements for portfolio managers and financial advisers;
  • Fiona Syer on the EU Commission proposals for recovery and resolution planning for non-banks, which are due to be implemented by the end of 2013, and which include insurers and hedge funds, and central infrastructure providers, such as exchanges, central clearing counterparties, payment and settlement firms and trade repositories; and
  • Julian Colborne-Baber on the need to focus on reputational risk management in the light of the current wave of reputational issues which are impacting firms across the financial sector, with a strong tone from the top being a vital component of maintaining appropriate core values throughout an organisation.

If you have any comments or suggestions regarding any aspect of topics discussed in this publication please let us know.

Previous editions

September 2012 (PDF, 158 KB)
June 2012 (PDF, 160 KB)
April 2012 (PDF, 160 KB)
December 2011 (PDF, 152 KB)
September 2011 (PDF, 176 KB)
June 2011 (PDF, 164 KB)
March 2011 (PDF, 185 KB)
January 2011 (PDF, 172 KB)
October 2010 (PDF, 200 KB)
July 2010 (PDF, 170 KB)
May 2010 (PDF, 160 KB)
February 2010 (PDF, 148 KB)
December 2009 (PDF, 168 KB)
September 2009 (PDF, 285 KB)
August 2009 (PDF, 147 KB)
May 2009 (PDF, 147 KB)
March 2009 (PDF, 144 KB)
January 2009 (PDF, 106 KB)
November 2008 (PDF, 74 KB)
September 2008 (PDF, 80 KB)
July 2008 (PDF, 161 KB)
May 2008 (PDF, 79 KB)
March 2008 (PDF, 188 KB)

Related information

Visit our Securities and Banking Update archive page and read our previous publications