EU unveils new drive to control financial speculators

first_img alison.lock Show Comments ▼ whatsapp THE European Commission has released new plans to clamp down on financial speculation, proposing tighter controls on everything from betting on the price of commodities to high-frequency trading.In a review of its Markets in Financial Instruments Directive (MiFID) legislation, EU officials want to curb speculation in areas such as government bond trading or commodities such as grain.CityA.M. broke the news of the plans to launch this consultation on reforming MiFID earlier this week, after obtaining a copy of the consultation document.City experts are concerned that the changes proposed will give European regulators unprecedented powers to control commodity markets, while investment banks face increased surveillance of their internal share and derivative trading platforms.Michel Barnier, the commissioner in charge of EU financial reform, wants to beef up the powers of regulators to intervene when speculative positions in specific financial markets send grain prices spiralling, for example.He will also tackle high-frequency trading, the millisecond buying and selling by computers of stocks and bonds that is suspected of triggering the flash crash in July, when US stock markets plunged only to recover within minutes.As part of Wednesday’s proposals, the Commission, the EU’s executive, also launched a push to raise penalties across the region for financial crimes such as insider trading, and to force national regulators to name and shame offenders.“This reform has been overdue because the markets broke down in the same way as banks did,” said Sony Kapoor, a financial expert with London think tank Re-define. “So far the whole effort has focused on banks.”The Commission is leading a shake-up of financial services across the 27-country EU after what began as a freeze in bank lending led to recession, widening budget deficits and ultimately sucked whole countries into a debt crisis.In the proposals officially launched today, which outline the shape of future European law, officials write of their desire to tackle “potential new risks that increased use of automated and high-frequency trading could pose to EU markets”.The rule change will also demand more information for regulators about trading prices in so-called “dark pools”, where the price of a deal is published only after it has happened. EU unveils new drive to control financial speculators Wednesday 8 December 2010 7:32 am by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was The Dream Girl In The 90s, This Is Her NowMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCute whatsapp Share Tags: NULLlast_img read more

Cineworld looks for 3D boost

first_img More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comConnecticut man dies after crashing Harley into live Share whatsapp Cineworld said yesterday new blockbusters should lift business this year as its profit was hit by the poor weather before Christmas. The group said 2011 promised to be a big year with a schedule which includes new Harry Potter and Sherlock Holmes films and a number of 3D movies, following the success of Avatar. Cineworld reported a 0.3 per cent increase in pre-tax profits to £30.4m in the year to 30 December.But the firm, which has 78 cinemas across the UK, saw movie-goers dip to 47.2m in 2010, from 48.2m the previous year. The company is opening new cinemas in places including Manchester and Hampshire this year. It also confirmed that it is on the alert for possible acquisitions. Chief executive Steve Wiener said: “We were hit by the snow but have some great films coming up.” Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeHealthyTed Health Magazine10 Surprising Benefits of Bananas You Possibly Didn’t Know AboutHealthyTed Health MagazineAll Things Auto | Search AdsNew Cadillac’s Finally On SaleAll Things Auto | Search AdsTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmForge of Empires – Free Online GameIf You Like to Play, this City-Building Game is a Must-Have. No Install.Forge of Empires – Free Online GameElvenarIf You Need to Kill Time on Your Computer, this Fantasy Game is a Must-Have. No Install.ElvenarAll Things Auto | Search AdsNew Acura’s Finally On SaleAll Things Auto | Search AdsPast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryBest Selling Grills | Search AdsTraeger Blaze & American Grills On SaleBest Selling Grills | Search AdsSonoviaStoreThese Amazing Pillowcases Got It Just Right!SonoviaStorecenter_img Thursday 10 March 2011 7:25 pm Cineworld looks for 3D boost KCS-content whatsapp Tags: NULLlast_img read more