Opinion
AIFMD 'depo-lite' financial strength questions
Do depository liability rules leave hedge funds defenceless?
Commodity position limits may make hedgers think twice
Dodd-Frank and Mifid II position limits could cause firms to withdraw from commodity derivatives
OpRisk Benchmarking Survey shows mixed progress: video
In the February 2014 editorial video, OpRisk's latest industry survey finds room for improvement in risk management
Benchmarking and reputation risk – editorial
Managed expectations
Progress and peril: Dodd, Maijoor, Pirrong and more on the G-20 reforms
Last year was a landmark for the derivatives reforms laid out by the Group of 20 nations in 2009, with clearing, trading and reporting rules all coming online in the US. But it was also just the start of efforts to co-ordinate and align the rules…
The white elephant of the trading book review
The Basel Committee’s fundamental review of the trading book raises some serious issues, but David Rowe argues its central proposed revision to the market risk capital regime is little more than a costly distraction
Too early to declare victory on TBTF?
Too early for TBTF call
Resist the rise of the risk management machines
Overreliance on modern risk management systems, and metrics such as value-at-risk, can blind firms to tectonic structural market shifts. To help alleviate this problem, the use of human judgement and intervention is required, argues Vincent Kaminski
Trading OTC may be costlier than you think
Debate continues to rage about the merits of clearing, with some market observers arguing that the benefits of using central counterparties are outweighed by the precipitous costs involved. But such criticisms fail to take the full burden of over-the…
Systemic operational risk since the financial crisis
A year of huge fines and settlements has thrown new light on the importance of controls and conduct risk
Buy-side reporting concerns as February Emir deadline looms
Quotes of the quarter
Forward views: Senior Asia dealers give 2014 outlook
Forward views: Senior Asia dealers give 2014 outlook
VAB’s Winter: Collateral rules risk derivatives and liquidity
Regulating collateral
Pension funds and the collateral crisis
Rising interest rates could leave pension funds facing huge margin requirements, creating an acute liquidity crisis
Why collateral research misses the point
There may be an aggregate collateral surplus, but pension funds and other firms that would face big margin calls in a rising-rate environment are not reassured
Meeting the challenge of bribery and corruption in Africa
Andrew Legg, senior litigation partner at global law firm Eversheds, examines the challenges businesses can face when navigating the issue of bribery in Africa and calls on the experiences of organisations already tackling the issue at the sharp end
The Omnibus II deal may have been done, but tough negotiations remain
'Robust debates' await level 2 discussions
Yellen faces a logistical nightmare
The impending transition from Ben Bernanke to Janet Yellen at the US Federal Reserve is taking place at a particularly sensitive time, argues David Rowe – the new chair faces the logistical nightmare of unwinding a massive increase in the central bank’s…
Accountability crucial for internal governance
Pickpockets or cyclists?
Energy trading firms must be whiter than white
Allegations of manipulation are particularly bad for energy trading firms, which should respond by holding themselves to higher standards
Risk management should be more than just a decoration
Despite massive investment in human capital and technical resources, risk managers failed to warn about the dangers of toxic assets and excessive leverage in the run-up to the global financial crisis. Their lack of authority is partly to blame, writes…