European Union is preparing rules on how to deal with failed financial firms outside the banking industry, including clearing houses, insurers and asset managers, Reuters reported.
BATS hired Laura Morrison to run its exchange-traded funds business. Morrison formerly worked at NYSE as senior vice president for global index and exchange-traded products.
HKEx launched a mainland division as part of its move to grow its business opportunities across the border, the Hong Kong Economic Journal reported. The new division will be headed by Mao Zhirong, who led the exchange operators mainland development team prior to it becoming part of the new division, and Li Gang, who had been a senior adviser since joining HKEx in March 2013.
Noble Group founder Richard Elman stated that the Hong Kong-based energy and metals trader plans to return more money to shareholders. Noble Group also rejected all the allegations of accounting impropriety and will confront some of the critics in court.
CFTC Chairman Timothy Massad wants an advisory panel to consider whether the CFTC should encourage clearinghouses to coordinate their responses to the default of a member bank.
US Federal Reserve former Chairman Ben Bernanke will take on the position of senior adviser at Citadel, providing the hedge fund’s committees with analysis of financial and economic issues, the WSJ reported.
CFTC former chairman Gary Gensler is expected to be appointed by Hilary Clinton as CFO of her campaign for the Democratic presidential nomination.