Operational risk
Taking exception
Value-at-risk
In brief:
FSA begins consultation for Mifid implementation FSA releases policy statement and feedback to capital standards under the CRD State of financial integration in the EU reviewed
Tiner warns banks of cross-market correlation risk
John Tiner, chief executive of the UK Financial Services Authority, has warned UK banks that their stress testing may not be adequate against a widespread downturn.
When Risks Collide
Operational-risk projects like Sarbanes-Oxley and Basel II compliance have more in common than many firms realize. Waters asks industry participants: Does it make sense to combine op-risk efforts?
The Waiting Game
With the Markets in Financial Instruments Directive deadline just 16 months away, Waters sits down with Chris Pickles, chair of the MiFID Joint Working Group and manager of industry relations at BT Radianz, to gauge the industry's state of preparedness.
Tell it to the judge
With well over a year to go to implementation, the Mifid bandwagon is already rolling through investment firms across Europe, but what punishment can financial services criminals expect, if any? Peter Madigan investigates
Quantifying operational risk using expert opinions
We seem to be in the same situation now with operational risk as we were 15 years ago with credit risk, that is, a lack of data to build useful models. But this gap may be partially filled by appropriate use of expert opinions. By Christopher Hall
Can SOX services be outsourced?
Companies, especially larger ones, have been grappling with Sarbanes-Oxley (SOX) for over a year now. Maturity, say analysts, has set in, and most firms, now over the learning curve, are trying to find ways to reduce the labour and cost it takes to…
Benchmarking for Mifid is unnecessary and will not work, say three top trade associations
The three top trade associations for capital markets have slammed the Financial Services Authority’s (FSA) early support for benchmarking.
Cost of storage is secondary to the needs of end-users, says CESR
Although the cost of storage and filing of regulated information is an important consideration, the decision on which model of storage to implement should be based on the needs of the end-user and proper fulfilment if the transparency directive should…
More trading in bond market transparency is unnecessary, says the FSA
Competition, market-driven transparency, regulation and the interaction between the cash and credit derivatives market is enough for efficient pricing and fair execution, according to a discussion paper on the UK secondary bonds markets released today by…
EC expert group recommends less hedge fund regulation
The European Commission’s (EC) expert group on hedge funds has stressed that more regulation is not needed, and that barriers should be removed to allow institutional investors to market products throughout the European Union (EU).
In Brief:
Final Mifid text now under review in the European Parliament The European Parliament is now reviewing the draft Level II text for the Markets in Financial Instruments Directive (Mifid). The draft, which is expected to remain largely unchanged, will then…
Market-neutral weathers the worst of May
equity market-neutral
Open pages releases FCM 4.0
MEASUREMENT ADVANCES
Mifid outsourcing debate resolved
REGULATORY UPDATE
Mifid JWG to re-group
MANAGEMENT INTELLIGENCE
Briefs
MANAGEMENT INTELLIGENCE
Severity modelling with external loss data
SEVERITY MODELLING
Exchange mergers to reduce op risk
MANAGEMENT INTELLIGENCE
Disclose pay, say investors
CORPORATE GOVERNANCE
Briefs
CORPORATE GOVERNANCE
A secure approach
Compliance wins the race to drive IT security, with efforts concentrated less on tools and more on policy. By Protiviti's Greg Hedges and Claudia Gomez