IMMFA, the trade association for the money fund industry, said the levels of regulatory capital recommended by the European Commission are ‘incorrectly calibrated’. IMMFA said it welcomed the European Commission’s consultation on revised capital requirements for credit institutions and investment firms, but raised a number of issues related to the classification of IMMFA funds as an asset type. Although the association accepted the requirement for investment management firms to hold a minimum amount of regulatory capital, it disagreed with the level proposed. IMMFA added that the Commission should write rules to allow CIUs (Collective Investment Undertakings) to be held in a bank’s non-trading book and to distinguish between types of CIUs, in particular to take into account CIUs that are rated by an ECAI, and the nature of the rating.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.