Complinet Canada Financial Services
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• Dancing in the dark: the extraordinary life and times of Bernie Madoff
  "In 1992 the SEC brought a lawsuit against two Florida accountants in the Federal District Court in the Southern District of New York.
• BIS to meet ISDA and DTCC to iron out CDS exposure data discrepancies
  The Bank for International Settlements has fixed a January meeting with the International Swaps and Derivatives Association and the Depository Trust and Clearing Corporation to resolve statistical discrepancies on credit default swaps which may have created large distortions.
• Exchanging blows: ECNs accuse exchange of exploiting monopoly position
  Australia's three market licence hopefuls have been left shell-shocked after the Australian Securities Exchange announced plans to launch two new markets that they believe have effectively cannibalised their business models.
• Complinet code cracker: Offshore financial centers, financial stability and transparency — the writing on the wall?
  The International Monetary Fund recently raised the alarm on the potentially adverse consequences that the concentration of funds in offshore centers could have for global financial stability.
• Juroviesky and Ricci LLP announces its initiatives to accelerate retail ABCP noteholder cash settlements
  TORONTO –– Juroviesky and Ricci LLP ("JRLLP") announced today that it is well underway in implementing its plan for lateral solutions to accelerate cash settlements to the ABCP Retail Noteholders.
• Hedge fund investors and banks stand to be the big losers in Madoff Investment Securities scandal
  The arrest of fund manager, Bernard Madoff, ex-chairman of the Nasdaq Stock Market, for criminal fraud may be the straw that breaks the camel's back for a number of hedge fund investors.
• US hedge fund regulation should reduce regulatory arbitrage, says Clifford Chance
  A bill that Senator Charles Grassley is due to propose next January aims to narrow the loophole which allows hedge fund managers with fewer than 15 client funds to operate without Securities and Exchange Commission registration.
• Tracker impact analysis: SEC liberalizing its regulation of cross-border securities intermediaries
  Before the recent wave of market crises, the US Securities and Exchange Commission took two significant steps towards liberalizing the rules applicable to non-US securities intermediaries (e.
• Deposit industry commits to self-regulation
  The Registered Deposit Brokers Association announced today that it has received support from the overwhelming majority of Financial Institutions (FI's) for its business plan to regulate independent deposit brokers as the Canadian deposit industry's professional standards Self-Regulation Organization.
• Hedge fund regulation does not stop fraudsters, warn lawyers after Madoff scandal
  Any amount of hedge fund regulation may not stop determined fraudsters who operate in the industry, lawyers have warned.
• Bank of Canada outlines top risks to banking system
  OTTAWA, Dec 11 (Reuters) - The Bank of Canada expects Canadian credit markets to gradually return to normal but listed some major uncertainties on Thursday that could put that outcome at risk.
• US rules require electronic data discovery in litigation, warn lawyers
  The downturn in the economy has brought litigation to the forefront and recent amendments to US federal rules of civil procedure have made electronic data part of the process, lawyers said.
• Court order provides $15.2m US for victims of investment schemes
  VANCOUVER, BRITISH COLUMBIA -- Victims of two cross-border investment schemes will get a portion of nearly $22.
• NAIC reinsurance modernization timely in credit crisis, say lawyers
  The National Association of Insurance Commissioners' Reinsurance Regulatory Modernization Framework Proposal is timely, in view of the global financial crisis, because it focuses on assessing counterparty risk.
• SOX in Sweden: part three
  MP Consulting continues its exclusive series of articles on the Sarbanes-Oxley Act of 2002 with an outline of SOX and its effects on entities that trade on US markets.
• Central clearing for CDS: regulatory pressure proves irresistible
  As the turmoil in global credit markets continues, there has been increased pressure from regulators on both sides of the Atlantic to introduce central clearing to the credit default swaps market.
• Regulatory arbitrage possibility on CDS regulation initiatives, warns Mayer Brown
  The US and Europe are coordinating efforts to regulate credit default swaps but are also in competition, according to lawyers at Mayer Brown, US.
• Cherry picked for SAC
  Paul Cherry has been confirmed as the new chairman of the Standards Advisory Council (SAC), the trustees of the International Accounting Standards Committee (IASC) Foundation have announced.
• European Commission proposes regulation of credit rating agencies
  The European Commission has published the proposed legislation to implement the decision earlier this year to bring credit rating agencies within statutory regulation.
• Basel committee calls for greater transparency from auditors
  The Basel committee for banking supervision has called on global auditing firms to improve the transparency of their structure and financial reporting as part of a drive to increase confidence in both the external audit industry and the wider market.