Commodity Futures Trading Commission chief Gary Gensler has persuaded U.S. regulators to insert new language into the Volcker rule clarifying its impact on foreign banks, according to people briefed on the change.
Every business day in London, five banks meet to set the price of gold in a ritual that dates back to 1919. Now, dealers and economists say knowledge gleaned on those calls could give some traders an unfair advantage when buying and selling the precious metal.
Dubai and Abu Dhabi are finding that outperforming stock markets aren’t enough to lure initial public offerings as restrictive regulations and a lack of trading volume persuade local companies to list in London.
The U.S. Commodity Futures Trading Commission is poised to deny requests from Wall Street firms for a broad delay of rules requiring they move their swaps transactions onto government-mandated systems by Oct. 2.