Feature
A giant step for China
Comment
Firstrade Clears Way for Anti-Money Laundering
In a move to wean itself away from dependence on its clearing firm's services, the online broker deploys an in-house AML solution.
Getting ready for IAS
With International Accounting Standard 39 set to be implemented in Australia in January 2005, John Kidd and Jim Godsil of Deloitte Touche Tohmatsu warn that early preparation is critical.
Ready and waiting
The Australian Prudential Regulation Authority is confident that the country's financial institutions are well placed for the implementation of Basel II, and expects the four largest banks to implement the advanced IRB approach.
Enter Big Brother's bigger brother
Unstructured data – such as emails and telephone conversations – is hard for a company to monitor. But Big Brother is getting cleverer.
New study underlines troubled state of op risk tech industry
A new study published by risk consulting firm Raging Torrents International concludes that vendor risk is very high in the operational risk technology area, and notes that the environment for financial institution spending on op risk vendor solutions is…
Operational risk: looking at the bigger picture
In the first of a two-part feature, Mark Holmes suggests that financial firms' operational risk issues would be better understood and handled by taking a leaf out of the op risk concepts and techniques developed in other industries.
Sponsor's article > The operational risk pyramid
The extremely heterogeneous character of operational risk often makes discussion of it appear fragmented and unstructured. David Rowe proposes one possible paradigm for organising our thinking on various aspects of this increasingly important topic.
Does CP3 get it right?
The Basel Committee on Banking Supervision's third consultative paper raises several complex issues, not least of which is: will it work in practice?
FSA study shows wide gap in firms' op risk frameworks
LONDON - In late July, the UK's FSA published a study of the practical implementation challenges that financial firms face when putting together an op risk infrastructure.
US investment banks create myriad problems for Basel II
NEW YORK - As financial institutions and banking regulators settle down to the challenge of implementing Basel II, a substantial problem has emerged for US investment banks.
Getting to grips with legal risk in investment compliance
Pauline Ashall of Linklaters discusses the new compliance challenges that asset management firms are facing, and outlines the steps executives can take to mitigate legal risk.
A capital adequacy primer
A summary of the Committee of Chief Risk Officers' (CCRO) emerging guidelines on capital adequacy, by Cinergy's Antonio Ligeralde, Kenneth Robinson of El Paso Merchant Energy and CCRO head Michael Smith.
European asset managers will feel the heat from CAD3
Compliance with the third capital adequacy directive (CAD3), a consultation paper recently released by the European Commission outlining the implementation of the Basel II Accord into EU legislation, may require European asset managers to hold…
Cad text horrifies credit agencies
LONDON - Industry associations and rating agencies are concerned about the regulatory risk implications of new regulations on credit rating agencies inserted into the latest draft of the EU Cad, published in early July.
Singapore finalises guidelines
The Monetary Authority of Singapore (MAS) has issued final, but not compulsory, guidelines for the country's risk management, business continuity and technology risk management practices.
ANPR maps out US differences on Basel II implementation for banks
WASHINGTON, DC - US regulators are determined to go their own way when it comes to implementing Basel II, according to the government's ANPR, published in mid-July.
CP189: the FSA yet to clarify rules for key op risk issues
LONDON - UK firms are faced with more questions than answers in the operational risk portions of the latest consultation paper from the FSA, CP189: Report and first consultation on the implementation of the new Basel and EU capital adequacy standards,…
Winds of change
Introduction
Where to look
Introduction
Comment
Introduction
Betting on recovery
In March 2002, on a voyeuristic impulse, I went to Enron’s bankruptcy auction at the firm’s offices in London’s smart SW1 district. From the top floor there was a view of the private royal gardens of Buckingham Palace; and from there, Enron’s executives…
In search of power solutions
Blackouts across Italy in early July highlight the need for power plant investment – and the new market operator says promotion of derivatives trading is necessary to encourage such investment. But producers are yet to bite, finds James Ockenden
Austrian rail firm on the risk management fast track
Austria’s largest electricity consumer, rail firm Österreichische Bundesbahnen, talks to EPRM about its energy risk management strategy. And, as Paul Lyon discovers, other end-users could learn from the innovative company