NEW YORK—Wall Street will be honing the coordination of its voluntary industry-wide testing of business continuity planning (BCP) this year, according to a representative of the Securities Industry Association's (SIA) BCP Industry Testing sub-committee...
The UK's chief financial watchdog, the Financial Services Authority (FSA), has called on the 12,000 firms it regulates to keep business continuity as a priority.
Business continuity issues involved in the clearing and settlement process are becoming a focal point for regulators, according to a new report published by US consultancy, Tower Group.
One year after Sept. 11, Morgan Stanley contemplates a simple thought with complex repercussions: Don't put all of your eggs in one basket.
With comments on the UK regulators' operational risk paper due by October 31, IBM's Pierre Pourquery says the proposals go above and beyond Basel II.
Wilson Ervin and I published an article in Risk last year on the danger that the Basel II proposed reforms of bank capital will lead to procyclicality, ie, pressure on banks to sell assets or raise capital at inopportune times, due to the risk sensitivity...
Firms say "toothless" disaster recovery guidelines will result in inconsistent plans.
Web access to market data and other tools could trim costs of maintaining redundant office space.
A joint finance-technology-government effort to safeguard the market infrastructure has already resulted in a secret command center and preliminary guidelines for industry-wide best practices.
The September 11 attacks on New York’s financial district have made the operational risk provisions of the proposed Basel II banking accord "much more relevant to many more people", a paper by business consultants Aroq Research said in March.
Disaster recovery issues have thrust network-based storage into the spotlight. Lehman Brothers reveals the complex layers of storage systems that allowed business to continue after last year's World Trade Center attacks.
LONDON -- British regulators are deciding whether to impose a specific capital charge on insurance companies for operational risk under new risk-based rules aimed at making the UK insurance industry safer.
LONDON - Combining risk transfer with risk financing might be one way of resolving regulator doubts about the use of insurance to mitigate operational risk under the proposed Basel II accord.
Greater precision is needed in defining operational risk, but the Basle regulators' latest thoughts are lost in generalities, says Jacques Pézier, in the final article of a three-part series.
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