Financial crisis
AMF fines Société Générale €2.5 million for internal control failings
The French financial markets regulator has penalised SG for failures during the financial crisis
Flowers defends MF Global as a ‘prudently run’ securities firm, despite Chapter 11 filing
JC Flowers head says reliance on short-term funding is a weakness of whole securities industry – not just MF Global. He adds a worsening eurozone crisis could lead to investment opportunities in troubled banks
Quant Congress Europe: Peter Carr introduces ‘meta-modelling’
Morgan Stanley quant tells Risk's annual European quantitative finance event that modelling assumptions should be considered in light of calibration needs - even if this leads to discrepancies
Credit Suisse and UBS on Basel 2.5: Half a world away
Half a world away
FX Invest Middle East: Mena region dodges Arab Spring 'curveball'
HSBC's senior economist for the Middle East and North Africa tells delegates at FX Invest conference the region has dealt with two big challenges this year, but it stands in better shape than some developed economies
Isda: Inconsistency among regulators worrying
Dodd-Frank's extraterritoriality and supervisory focus on market structure reforms that will not deliver systemic risk reduction are concerns, says Isda chair Stephen O’Connor
National culture can affect banks' operational risk
National interest
US watchdog spots conflict of interest with Fed director roles
US Government Accountability Office identifies three examples where senior bank executives might have benefited from their positions on regional Federal Reserve boards
iShares says ETFs backed by derivatives should be renamed
Call for new labels as Jack Reed, senator for Rhode Island, notes that ETFs have been labelled the "new weapons of mass destruction"
Regulatory experts say EU's naked CDS ban is ill-judged
The new rules are "another instance of the authorities blaming the wrong people and imposing the wrong policies", says Cass's Ian Marsh
Lords take Vickers to task over robustness of plans
Vickers faced fierce questioning on Independent Commission on Banking’s final report and recommendations; incentive for banks to cheat the system discussed
SEC charges former UCB executives with misleading investors
SEC charges former UCB executives with failing to disclose losses that led to the bank crashing in 2009
Solvency II modelling could cause systemic risk, industry warns
Industry experts warn uniform modelling under Solvency II could lead to risk contagion
SEC report reveals failings at top three rating agencies
A report released by the US SEC reveals S&P, Moody's and Fitch all still have significant failings in their operations
Sponsored statement: Absa Capital
The new paradigm for hedge funds
Q&A: Myron Scholes on LTCM, crisis lessons and the value of intermediation
Quants' golden age
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
Berg new CRO at Swedbank
Crisis specialist Berg takes over as chief risk officer at Swedish bank
Uprisings lead to AML improvement in Middle East
Banks in the Middle East have a heightened awareness of AML issues since this year's uprisings, according to industry experts
Last-minute US debt ceiling rise leaves world reeling
Debt ceiling deal will not restore investor confidence immediately; China still looking to diversify reserves away from dollar; credit rating agencies cautiously affirm top ratings
Hedge funds not systemically risky, but UK regulator issues caveats
UK FSA's Hedge Fund survey and Hedge Fund as Counterparty survey find systemic risk low, but it does offer limited warnings
Robert Mundell: How to save the euro
Nobel laureate Robert Mundell says eurozone can be saved with three-pronged policy solution, ‘for the short run, intermediate run and long run’
RBS faces $100 million lawsuit in US
RBS being sued in the US by Highland Capital for $100 million
Greece’s second bail-out met with relief
Traders and strategists believe latest rescue package is a positive development, but expect further pain ahead as it is implemented