Operational Risk & Regulation - Volume 11/Issue 8
Articles in this issue
Aussie insurers face new risk-based capital requirements
New explicit requirement for operational risk capital proposed for life and general insurance firms in Australia.
Chinese banks’ AMA op risk projects on hold
AMA projects on hold as Chinese banks get to grips with credit risk portion of Basel II
Change is the only constant
Regulatory change is inevitable, but those in Basel say they are taking it slow
Three ordered by High Court to pay £115 million to UK FSA
Three ordered to pay up for accepting deposits without FSA approval
Goldman Sachs to pay $550 million to settle SEC lawsuit
US bank receives the largest fine the SEC has ever imposed on a financial entity
DBS Bank agrees compensation for Hong Kong Lehman notes
Securities and Futures Commission accuses DBS of inappropriately selling high-risk products to low-risk profile investors
Former Société Générale manager fined for insider trading
Jean-Pierre Mustier fined €100,000
UAE firm sues MD over bonuses
Claims director mis-stated profits in order to collect bonus
Banks face suit from US fund over mis-sold subprime loans
Fifteen banks accused of mis-selling mortgage-backed securities
Sigor assesses QIS data but capital rule changes will wait
Basel Committee considers recalibrating the simpler approaches to op risk measurement but says changes will happen later rather than sooner
Cebs responds to critics with new op risk paper
Committee issues second consultation paper to address concerns over level of detail in op risk guidelines on market-related activities
Dodd-Frank Act signed but uncertainty remains
New legislation means more study and rule-makings needed, creating operational risks for banks
Basel’s buffers won’t apply to op risk calculation
Basel Committee proposes capital buffer to be tied to macroeconomic indicators
Banker bonuses cut by EU amendments to CRD...
...and US issues supervisory guidance
Changing Hats, August 2010
The movers and shakers in the op risk professions
UK FSA sees further departures
Chief operating officer resigns
New chairman and board for ORX
Mignola new chair of Operational Risk data eXchange
ANZ's Page: The op risk manager is the goalkeeper
Chris Page, group head of risk management at ANZ, sees his role as “guardian of the balance sheet” as first and foremost, but is also aware that sometimes he needs to stand his ground on risk issues, as he might be the last man standing between the bank…
OpRisk Europe: The slow drive for change
Speakers at OpRisk Europe agreed that, while change in op risk legislation and capital calculation is necessary, it needs to be undertaken slowly and carefully
Brazil poised for real change on Basel II
Brazil is justifiably proud of the progress it had made in the implementation of Basel II, due for completion in 2013. However, a sudden increase in lending is raising a host of data issues and diverting management’s attention away from operational risk
Regulatory culture vultures start to circle in UK
Regulating for good culture and ethics at financial institutions is difficult because it is so subjective, but there are signs the UK supervisor is moving in that direction
Central clearing a tricky fix for over-the-counter derivatives
Central clearing might solve some of the problems with over-the-counter derivatives, but it is by no means a straightforward solution, and could raise some additional problems
How to make VAR go voom
An amended approach to value-at-risk that focuses on the drivers of risk and the use of agent-based modelling and simulation to capture the bounded rationality of human decision-making
