Operational risk
LV= appoints Haynes as chief risk officer
Steve Haynes takes up chief risk officer post at LV=
Inclusion of legal losses in op risk databases has banks fretting
Banks worry Basel rules requiring legal events to be included in operational risk databases earlier might mean the information is used against them in legal proceedings
Banks face high costs for Fatca compliance
Banks might need to set aside up to 40% of their operations change budget to make themselves Fatca compliant
BBVA given deadline to improve AMA model
BBVA has been given until December 2011 to make improvements to its AMA model by the Bank of Spain, or will not obtain the capital savings the AMA allows
EBA to publish governance and op risk guidelines in September and October
EBA op risk specialist Bernd Rummel says the new European body has a busy schedule of work to implement CRD IV
ABI redundancies in the face of Solvency II
Shake-up will also entail "resourcing-up" Oric to help members prepare for internal op risk modelling
IIF calls for co-ordination in banking and insurance regulation
In its latest report, the IIF calls for cross-sector co-ordination in banking and insurance regulation
BoA appoints Laughlin as chief risk officer
Replaces Bruce Thompson, who becomes chief financial officer
DTCC appoints new group chief risk officer
Noel Donohoe will head ERM, op risk and systemic risk teams
Berg new CRO at Swedbank
Crisis specialist Berg takes over as chief risk officer at Swedish bank
Aviva Europe appoints new chief risk officer
Doug Brown joins insurer
SEC commissioner Casey steps down
End of term for longest-serving US regulator
Operational risk data finds fraud and losses falling
Operational risk data, September 2011
NCUA sues Goldman Sachs for $491 million
Bank mis-sold mortgage-backed securities to credit unions, regulator says
SEC obtains restraining order against Select Asset Management
$52 million fraud misused investor capital, SEC claims
SEC freezes $32.5 million of Swiss entities' assets
Court favours insider-trading suspicions in Arch Chemicals case
Interbank settlements: the cash must flow
The cash must flow
EDF Energy: effective op risk management at a nuclear power station
Powerful knowledge
EMCF joins push for central clearing interoperability
All four Bats Europe and UBS MTF central counterparties now allow interoperability
Wave of new regulation brings inconsistencies and loopholes
Divergent paths
Op risk overhaul coming at Axa
More than capital
Fatca could lead to systemic and reputational risk, says BBA
The BBA has submitted a letter to the US Treasury and IRS raising concerns that Fatca could cause systemic and reputational risk
Risk.net poll: regulatory changes are not making compensation more risk-based
Basel III's higher capital levels mean "bankers' pay will come down"