Operational Risk & Regulation - Volume 11/Issue 6
Articles in this issue
Compliance vendors triumph in adversity
Compliance providers have found new customers as a result of the recently changed regulatory environment, while adopting integrated approaches to make the best of tightened budgets everywhere. David Benyon reports
SEC reports it suspected Stanford Ponzi scheme since 1997
Officials at US regulator might have put Stanford case in the 'too-hard' box
Countrywide to pay $600 million to New York pension funds
Mortgage bank alleged to have exposed investors to excessive risk
Shinsei announces ¥140 billion losses
Unexpected losses blamed on bigger provisions against property loans
Goldman Sachs to pay $450,000 fine for illegal short-selling
Bank's systems fail to comply with US regulations to control naked shorting
Ex-Kaupthing chief executive arrested
Sigurdsson faces embezzlement charges
ABN Amro settles $500 million for violations
Bank violated sanctions and failed to set up adequate AML programme
UK Bribery Act shakes up systems and controls
Banks operating in the UK may no longer make facilitation payments
Circuit breakers to stem NYSE trading falls
A 10% move in a stock price would trigger a pause in trading to prevent sudden falls
Moody’s widens op risk definition for securitisation
Ratings agency breaks down boundaries of counterparty, credit and liquidity risk
Goldman preps for reputational fallout from CDO lawsuits
SEC civil action could prompt deluge of shareholder actions
AIFM provision threatens depository banks
New EU directive ups depository bank liability and could force some banks to exit the market
Firms scrimp on insurance despite rise in claims
Survey finds European firms aligning insurance packages with their risk profiles
Bankers hope for derivatives reprieve under US Dodd Bill
Banks lobby to avoid spinning off swaps desks under planned regulatory reform
Morgan Stanley’s metrics in Cruz control
Marcelo Cruz Morgan Stanley's new global head of operational risk measurement and metrics
Changing Hats, June 2010
Tracking the latest people moves in the op risk industry
Learning to Love Basel II
Introducing a major insurance element to operational risk management processes is a passion for National Australia Bank’s Ross Love.
New kids on the block
As the traditional retail banking giants struggle to stay afloat, a new breed is rising to the surface
Where there’s a will…
Living wills have quickly emerged as a new measure to ensure banks are better prepared for the next crisis. But clear definitions of exactly what information they should contain and how they should be drawn are lacking
Governance returns
Excessive risk-taking was a major cause of the recent meltdown in the financial markets. Time, then, for corporate governance to return in force
Loss leaders
Operational risk is potentially the biggest risk faced by insurers – and also one of the most difficult to model. However, as a number of loss data aggregation initiatives globally either emerge or mature, insurers are better placed to quantify their op…
