Operational Risk & Regulation - Volume 12/ Issue 7

Articles in this issue
Firms could face Bribery Act prosecution over FCPA compliance
UK regulators could use documentation provided to US counterparts as evidence of facilitation payments
Fed to kick off annual stress-testing programme 'towards end of the year'
FRB building models to compare and benchmark bank results from late 2011
Media-savvy US regulators may play on fear of wiretaps after Galleon success
Former SEC and DoJ spokesman says uncertainty over new tactics is a powerful tool
Ease of bank switching could cause systemic risk
Meeting consumers' demands for easier bank account switching could increase the risk of a bank run, insiders fear
Oric and ORX in talks regarding possible merger
Oric and ORX have been in talks for more than a year regarding a possible merger of their operational risk data platforms
Some way to go on Bribery Act compliance, survey finds
UK laws and public pressure putting spotlight on anti-corruption issues
LatAm central banks push op risk loss databases
Learning to share
Industry resists Dodd-Frank real-time reporting
While the Dodd-Frank Act calls for real-time trade reporting, industry insiders argue it will be misleading
Criminal minds and increased surveillance
All you survey
OpRisk Europe: Implementation is key
Changing the rules
Op risk needs greater R&D effort, say US regulators
Senior Fed regulators call on banks to restart research into op risk management
Central clearing: safe as houses?
New regulations mandating the central clearing of OTC derivatives bring operational risks for central counterparties and increased exposure to systemic risk. In the second of a two-part series, ORR looks at the problems and opportunities for clearing…
BMO's David Fletcher: advancing on the AMA
In advance
Theye charged with multimillion-dollar Ponzi scheme
CFTC charges Austin man with defrauding investors in a multimillion-dollar Ponzi scheme
FSA fines Bank of Scotland for mishandling customer complaints
The FSA has fined Bank of Scotland for mishandling customer complaints relating to retail investment products
Former Nasdaq director Johnson charged with insider trading
Ex-Nasdaq managing director Donald Johnson has been charged by the SEC with insider trading
Fraud by long-serving employees rising, survey finds
Typical fraud is committed by senior financial managers and goes unnoticed for three years, according to KPMG
Stockton retires from FRB
David Stockton will be retiring from the FRB ths year after 30 years of service
Bank of America appoints new chief technology officer for GWIM unit
BofA has appointed David Reilly as its chief technology officer for its GWIM unit
SEC appoints Lewis as director of RiskFin
The SEC appoints Craig Lewis as its chief economist and director of the risk, strategy and financial innovation division
Triffitt becomes risk director at KPMG in London
KPMG has appointed Giles Triffitt as risk director in its risk management division in London
SEC accuses China Voice founder of fraud
The SEC has charged China Voice CFO and associates with fraud
SEC charges Madoff employee with fraud
Longtime Madoff employee Eric Lipkin is charged by SEC in connection with Madoff Ponzi scheme
Egan and McGarry sentenced over $60 million fraud
Two New Yorkers have been handed prison terms for their part in a $60 million fraud
GRC special report: sponsored Q&A
Platform for practicality
GRC special report: MetricStream sponsored feature
Five key trends in risk management
Types of operational risk loss by event, May 2009 to May 2011
Internal fraud causes higher losses than any other type
People moves
BIS reshuffle: King, Ingves in – but White steps down