Operational risk
US SEC had suspected Stanford Ponzi scheme since 1997
A report from the US Securities and Exchange Commission (SEC) says the Stanford fraud was ignored for a decade because it was too big and too complex.
Russia targets CLS inclusion by 2015
Settlement risk in Russia's ruble is preventing the currency realising its global ambitions
Cloud computing security and compliance issues challenge banks
Financial services firms, wary of cloud computing, are looking to a new hybrid public-private cloud strategy to ease concerns.
Regulation places 'huge burden' on US community banks
American Bankers Association warns of growing burden of regulation on small banks
Why banks must prepare for a 'black ash' event
Erupting volcanoes do not often show up in scenario plans for financial services firms but they might do from now on.
People power
Andrew Cherriman, head of operational risk management for wholesale banking at Standard Chartered Bank in Singapore, says his ability to rely on expert staff is the key to operating a sound risk management system across the bank’s many jurisdictions. He…
Institute of Operational Risk names new chairman
Ed Sankey takes over from Philip Martin as head of the Institute of Operational Risk (IOR).
IMF weighs in to too-big-to-fail debate
Report looks at current proposals to deal with systemic risk and bank failures
Liberal Democrats plan unilateral approach to bank pay reform
Lib Dem leader Nick Clegg has committed his party to punitive unilateral bank bonus regulations in the UK election race.
Cebs addresses next-generation AMA models
Paper seeks to harmonise rules for approving model changes under the advanced measurement approach (AMA)
Bonuses fail to match expectations
Bonus speculation is now over as the banks pay out, with the exception of Royal Bank of Scotland, which will not pay bonuses until June.
Recession has silver lining for GRC concept
Ideas about governance, risk and compliance are still evolving, but the downturn has provided a chance to put them into action.
Banks call for new consultation on Cebs op risk guidelines
British Bankers Association submits response to consultation and hearing
Cebs issues guidelines on capital adequacy of cross-border banks
Regulator seeks consistent approach to capital requirements across the European Union.
UK Parliament set to pass bribery bill
The UK Bribery Bill will be passed imminently, bringing the country into compliance with OECD anti-corruption guidance.
FSA fines Credit Suisse and two others £4.2m for transaction reporting failures
Inadequate reporting systems and controls to prevent market abuse leads to £4.2m fines for three London firms.
Fourth annual compliance software survey launched
Operational Risk & Regulation launches its fourth annual compliance software survey
EBF requests review of EC capital markets rules
European bankers call for improvements to Markets in Financial Instruments Directive ahead of European Commission review; CESR calls for evidence on markets' developments
RBS fined £29 million for sharing pricing information
Royal Bank of Scotland (RBS) has settled with the OFT for breaking competition rules with Barclays
FSB peer review report says jury still out on compensation structures
The G-20 FSB says financial pay structures are still evolving globally but that progress is good
Sponsored webinar: Strengthening the defences
The challenges that fraud presents to financial institutions
Where's your motivation?
Discussion about incentives to promote good risk management is increasingly gaining relevance for Basel II advanced measurement approach applicants, as well as for banks adopting the standardised approach