European Union lawmakers clinched a deal to toughen the bloc’s financial-market rulebook, backing sweeping measures that will put the brakes on high-frequency trading and curb speculation in commodity derivatives.
European Union negotiators reached a breakthrough on how much equity trading can occur on private platforms known as dark pools, as talks advanced toward overhauling the bloc’s financial market rulebook.
European Parliament lawmakers have reached a draft deal with national governments on high-frequency trading curbs as part of a push to toughen the bloc’s financial market rulebook, said the chief legislator working on the plans.
The U.S. Securities and Exchange Commission will oversee hundreds more private advisers at hedge funds and private equity firms than it first predicted, expanding the reach of one of the most controversial requirements of the Dodd-Frank Act.
High-frequency traders may win a partial reprieve from proposed European Union rules designed to prevent a repeat of the so-called flash crash after banks and exchanges including Deutsche Bank AG and NYSE Euronext warned they could damage markets and lead to an exodus of traders.
The European Union’s financial services chief told legislators that a planned overhaul of the bloc’s rules for trading swaps may breach international agreements, threatening EU access to overseas markets.
AIJ Investment Advisors Co. President Kazuhiko Asakawa said he ordered the falsification of fund performance reports in the hope the Japanese asset manager could recoup losses that may exceed $1 billion.