Reuters: Regulatory News: PRESS DIGEST - Financial Times - March 26

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PRESS DIGEST - Financial Times - March 26 Mar 26th 2012, 02:05 Sun Mar 25, 2012 10:05pm EDT Financial Times MERKEL SET TO ALLOW FIREWALL TO RISE Germany is poised to bow to international pressure and allow a temporary increase in the euro zone's financial "firewall" this week, to prevent the crisis in the region's periphery spreading to other member states. BANKS SET TO CUT $1 TRILLION FROM BALANCE SHEETS Investment banks are to shrink their balance sheets by another $1 trillion or up to 7 percent globally within the next two years, says a report that foresees a shake-up of market share in the industry. HEDGE FUNDS FACE HIGHER TRADING COSTS Leading prime brokerages are preparing to hit clients with across-the-board increases in the cost of trading, which could dry up liquidity and cause niche global markets to shut down. BIRDS EYE IGLO PUT UP FOR SALE BY PERMIRA Birds Eye Iglo, the frozen foods business bought out of Unilever by Permira, is joining the shopping trolley of food assets up for sale. UBS TO OFFER ORCEL FULL BACKING UBS is gearing up to use its balance sheet heft to back its new co-head of investment banking as the Swiss group steps up efforts to revive its status in the market. LLOYDS' DEAL FACES BUYOUT OPPOSITION Two private equity firms are looking for ways to block Lloyds Banking Group's sale of their loans to a Bain Capital arm, according to a person familiar with the matter. LUXEMBOURG FACES EU RAP ON INVESTMENT RULES Luxembourg, the main home for one of Europe's most popular investment products, is to be singled out as a regulatory weak link in an unusually undiplomatic European Commission proposal. US REGULATOR POINTS FINGER OVER FREDDIE AND FANNIE The U.S. regulator overseeing state-controlled home loan financiers Fannie Mae and Freddie Mac has said the companies are being pushed to accept losses to keep big U.S. banks from writing down their holdings. OUTGOING FSA ENFORCER SAYS WATCHDOGS NEED MORE BITE UK financial watchdogs should step up penalties and tackle a wider range of fraud cases to make sure the London's financial district continues to take the law seriously, Margaret Cole, a top Financial Services Authority official, has urged as she prepares to leave for the private sector. UK'S ROYAL MAIL TO DELIVER IPO IN 2013 Britain's coalition government aims to begin the privatisation of Royal Mail by selling or floating at least part of it in autumn 2013 if the state-owned postal operator's finances continue to improve. SPAIN'S CAIXABANK SET TO BID FOR CIVICA Caixabank, the listed arm of the Barcelona-based savings bank La Caixa, is poised to announce a bid as early as Monday to take over its smaller rival Banca Civica in the latest move to restructure Spain's financial sector, according to executives from both banks. SWEDISH OIL GROUP SVENSKA UP FOR SALE Mohammed Hussein al-Amoudi, the Saudi billionaire, has put Swedish oil explorer Svenska Petroleum up for sale in a deal that could raise $2 billion. IAG WEIGHS ITS NORTH ATLANTIC OPTIONS The owner of British Airways, IAG, is close to appointing an adviser to help safeguard its north Atlantic joint venture with American Airlines. Link this Share this Digg this Email Reprints

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