Op risk data: Robinhood to cough up $70m over meme stock failings
Also: Deutsche Bank’s wine corked after €10m FX swaps settlement. Data by ORX News
In June’s largest operational risk loss, Deutsche Bank provisioned €100 million ($122 million) to compensate customers after Germany’s high court ruled that past increases in current account fees at its retail Postbank subsidiary were unlawful.
For many years, German banks relied on tacit approval from their customers when raising account fees or changing terms and conditions. However, a consumer
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Podcast: Villani and Musaelian on a quantum boost for machine learning
Classical methods struggle with highly dimensional problems. Quantum cognition takes a different approach, as hedge fund duo explain
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In bank-fintech partnerships, AI can be both a source of operational risk and a solution to it
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BoE quant discusses top-down counterparty risk framework using Gaussian distributions and copulae
Op risk data: BofA biffed for $540m over insurance fund swerve
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Rising systemic risk demands a new risk management paradigm
Reinsurers need insurance-linked securities to share burden of climate-related catastrophic risk
Op risk data: Luna crypto chicanery shrinks Galaxy coffers
Also: Down under and dirty – motor finance scandal comes to Oz, and 2024 in review. Data by ORX News
Why AI will never predict financial markets
Laws that govern swings in asset prices are beyond statistical grasp of machine learning technology, argues academic Daniel Bloch
