The former head of the US Securities and Exchange Commission (SEC) Chris Cox has told the SEC that full-scale adoption of International Financial Reporting Standards (IFRS) is no longer possible in the US. “This is not a prognosis. It’s just a statement of fact,” he said.

In a lawsuit filed on June 25 New York attorney general Eric Schneiderman has claimed that Barclays gave false statements to clients about how, and for whose benefit, the firm operates its dark pool. Mr Schneiderman accused Barclays of processing market data so slowly as to allow high-frequency traders to engage in predatory activity.

The Financial Stability Oversight Council is concerned over the use of captive reinsurance to finance reserves for life annuities.

The European Banking Authority has revealed its intention to conduct annual benchmarking of risk weights modelled internally by banks. This follows studies in 2013 that revealed the extent of variation in results for market and credit risk-weighted assets calculated using the internal ratings-based approach. 

Insurance firms are the latest institutions to be scrutinised by UK regulators under newly introduced regulations.

Federal agencies increasingly voice a preference for using the leverage ratio and stress testing as an alternative to Basel risk-weighted capital, writes Philip Alexander.

The CFTC commissioner wants to bring the US and EU together to resolve data quality issues in derivatives reporting standards, reports Charles Piggott.

With high-frequency trading attracting attention, the US is considering two approaches to curb potential abuses, finds Michael Marray.

EU regulations governing credit rating agencies appear to be promoting stability in the sovereign debt market, but there are still elements of confusion, says Philip Alexander.

European trading facilities are weighing their options to be able to continue handling US clients, writes Philip Alexander.