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10 April 2014

Considering the impact of the change in client money rules on Treasury operations

By Naresh Aggarwal and Heather Page Client money rules are being further strengthened. As a result, Treasurers need to ensure that they can clearly identify client from corporate money. Getting it wrong can (and has) resulted in significant fines - SEI was fined £900k in November 2013, Aberdeen was fined...

17 March 2014

EMIR reporting post go-live update

February 12, 2014 was the big day for counterparties conducting trading activities in OTC or exchange traded derivatives to begin reporting to Trade Repositories (TR). We outline below market feedback received post go-live as well as key challenges faced by corporates and next steps. How did day 1 go? Several...

11 October 2013

Time to think about the impact of new UK GAAP on Treasury

By Chris Raftopoulos Companies that currently adopt UK GAAP, including those that have adopted FRS 26, need to be thinking about the implications and their choices available for the standards that will replace current UK GAAP. From a Treasurer’s perspective, early analysis of the financial instrument implications will be essential...

19 March 2013

Did you comply with EMIR on 15 March?

By Olga Cileckova EMIR fulfils several of the European Union’s (EU) G20 commitments to reform the global $630trillion over-the-counter (OTC) derivative markets. The reforms are designed to reduce systemic risk and bring more transparency to both OTC and listed derivatives markets. These regulations will impact all corporates whom have OTC...

08 March 2013

Are you ready for EMIR?

By Sally Nicholson It seemed as though EMIR (European Markets Infrastructure Regulation) was never going to become law, but it’s now reality. On March 15th 2013 the first of these regulations will apply, with further requirements being phased in over 2013 and 2014. These regulations will impact all corporates whom...

15 February 2013

Actively managing commodity risk for competitive advantage

Companies faced with significant exposures to commodities are experiencing unprecedented challenges as a result of volatile and rising commodity prices fuelled by population growth, climate change and a growing prosperity. This in turn is having a direct impact on company performance and many companies who have issued profit warnings over...

05 February 2013

Should Corporate Treasurers worry about sale of IT2 to Wall Street systems?

Wall Street Systems (WSS) acquired a leading treasury management system (TMS) vendor IT2 Treasury Solutions Ltd on 11th January 2013. This raises a number of questions for corporate treasurers – will WSS continue to support IT2, City Financials and other products and provide regular upgrades? Will WSS ask clients to...

17 January 2013

In the Debt Markets Issue 5

In this issue we take a closer look at how structural change and the economy has dominated the debt markets. We also see that supply discrepancies are to continue in the leveraged loans market; as the high yield bond market sees a big recovery. We also report on how the...

17 October 2012

EU Late Payment Directive

The EU Late Payment Directive was originally brought into UK law in 1998 by way of the Late Payment of Commercial Debts (Interest) Act. It was designed to standardise the right to claim late payment interest on overdue commercial debts throughout all member states. The scope of the Directive is...

12 September 2012

IASB issues review draft on hedge accounting

The IASB has issued a review draft (RD) that details the new hedge accounting requirements. The IAS 39 requirements on hedge accounting have frustrated many preparers as they have not been well linked with common risk management practices. The detailed rules have at times made achieving hedge accounting impossible or...