Category: Risk Management
Banking Reform Bill Amendment on Payments and Securities Settlements
On 8th October the Financial Services (Banking Reform) Bill heads to the House of Lords for further consideration by their Lordships. Having listened to numerous opinions the Government has tabled more than 80 amendments which it proposes to add to The Bill. One such amendment relates to payments and securities settlements. This amendment, set out […]
Technologies required to improve (ORM) Operational Risk Management
Thompson Reuters published an interesting report available on Risklibrary.net discussing the specific technologies required for firms to improve their ORM processes, including ORM platforms, policy and procedure management, regulatory change management, and real-time risk intelligence. Defining ORM scope Operational risk is defined as “the risk of loss resulting from inadequate or failed internal processes, people and […]
AmBank recognised as one of Asia’s outstanding companies for corporate governance
According to the Sun Daily, AmBank Group was named “Asia’s Outstanding Company” at the recent Ninth Corporate Governance Asia Recognition Awards 2013 held in Manila, the Philippines. Corporate Governance Asia is a Hong Kong-based quarterly journal featuring news and analysis on corporate governance issues, boardroom performance and shareholder activism. “We are honoured to be recognised […]
JPMorgan agreed to pay $920M to Settle London Whale Probes
By Bloomberg.com JP Morgan agreed to pay $920 million in penalties and admitted violating securities laws last year as top managers withheld information from the board. Senior executives had evidence by late April 2012 that traders in the chief investment office in London were pricing a derivatives portfolio in a way that reduced reported losses, […]
ERM – Enterprise Risk Management: Not a one-size fits all programme
Dan Baldwin from Leggett & Platt discusses the importance and complexity of managing ERM in an organisation. ERM – The Art and Science of Enterprise Risk Management (…) Risk is a big part of life and business. If you take no risks, you limit your potential for success. If you take too much risk, you may […]
When Operational Risk is a matter of judgement
Co-op in the spotlight The UK Treasury Select Committee is carrying out an enquiry into the collapse of the deal to sell 632 Lloyds Banking Group branches to the Co-op. Appearing before the committee Neville Richardson, the former Co-operative Bank Chief Executive, has given evidence which appears to be at odds with that given by […]
Strengthening AML regulations across the world
Money Laundering laws strengthened in Bahrain Money Laundering regulations in Bahrain have been strengthened following the signing of a Royal Decree by Sheikh Hamad bin Isa Al Khalifa. In an amendment to the Money Laundering and Counter Terrorism regulations, security services have been given extended powers to co-ordinate with other countries in cracking down on […]
Proposals for regulations in shadow banking and new standards for multi-listed securities
FSB proposals on shadow banking The Financial Stability Board (FSB) has published proposals to strengthen the oversight and regulation of shadow banking. The proposals follow on from the 2011 G20 summit in Cannes at which the G20 leaders agreed to take steps to mitigate the risks posed by “that part of the financial system that […]
Operational risk and regulation
Impact of Basel III and Dodd-Frank Act A survey conducted by Chartis Research has revealed that capital adequacy requirements linked to Basel III and the Dodd-Frank Act are expected to be leading sources of regulatory and operational risk management pressures in the immediate future. The survey which took opinions from financial organisations across the globe […]
The risks involved in securities settlement and custodial services
Court verdict on Wells Fargo’s securities lending programme A federal court jury in Minnesota has rejected an $8.2m claim by Blue Cross Blue Shield of Minnesota and other institutional investors that Wells Fargo & Co misrepresented a securities lending programme as safe. Under the program, Wells Fargo held its clients’ securities in custodial accounts and […]