Operational risk
Compliance vendors triumph in adversity
Compliance providers have found new customers as a result of the recently changed regulatory environment, while adopting integrated approaches to make the best of tightened budgets everywhere. David Benyon reports
FSA seeks to enhance op risk frameworks
UK regulator moves forward with its work stream focusing on raising the bar for TSA firms
Penny Cagan in conversation with Jonathan Howitt
Algorithmics' operational risk expert Penny Cagan speaks with the Man Group's Jonathan Howitt on key challenges facing op risk executives globally
UK Bribery Act broader than FCPA, but more guidelines needed
Firms in the UK will need more guidance on complying with the Bribery Act's strict rules
Report: Fraud rising as compliance struggles for recognition
Ernst & Young Fraud Survey indicates continued need for anti-fraud measures, even against a tough financial background
US regulators call for circuit-breakers but exchange risks remain, says expert
Proposed rule changes from Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (Finra) are a good but incomplete solution to operational risk within exchange infrastructures
ABN Amro ups data quality initiative
Improving data quality is a risk management initiative driven by Basel II at ABN-Amro
Clearing no panacea for risk mitigation, panellists agree
Participants warn against one solution for all asset classes
Bond vote highlights flaws in ECB’s governance: Ex-FSA head Davies
Former head of UK Financial Services Authority Howard Davies says vote on bond purchases underlines flaws in European Central Bank’s one member, one vote policy
IOR continues industry guidance programme
Industry body holds risk management seminars
Investigations find no evidence of 'fat finger' errors in US trading fall
NYSE, SEC and CFTC claim 'fat finger' error not the cause of last week's stock market plunge.
Trading fall prompts amendment to the Dodd Bill
Last week’s drop in US markets could yet provoke regulatory fallout
Operational risk possible cause of US equity nose-dive
Fat finger error mooted as possible cause for US market plunge
Finra to gain regulatory power from NYSE Euronext
The Financial Industry Regulatory Authority is to take powers of market surveillance and regulation enforcement from NYSE Regulation.
US insurers taking up GRC in budget drive, says expert
Insurance firms are using GRC to cope with tight budgets and heavy compliance burdens
AIFM provision threatens to change the risk profile of depository banks
Article 17 of AIFM seeks to impose strict liability on depository banks that could have far-reaching ramifications for the industry
Rating agencies under scrutiny once more
Rapid downgrade of Greece prompts Barnier to call for an investigation into CRA practices.
EBF urges restraint on remuneration regulation to protect EU competition
An EBF report calls on EU governments to hold back on punitive reforms to banking bonuses because they may threaten the competitiveness of EU financial centres
Data management key to understanding systemic risk, says expert
Systemic risk management will require enterprise-wide information gathering
To boldly go
Throughout its brief history, the operational risk discipline has been labouring under a limiting and perhaps inaccurate definition of what it is and what it should be covering. Op risk needs to broaden its remit across the enterprise if it is going to…
Sound scenarios
Mariano Selvaggi describes the issues the Operational Risk Consortium took into account when preparing its report on the use of scenario analysis of operational risk in insurance, and how a sound scenarios framework can benefit firms