Articles by Jessica Meek
Central clearing: safe as houses?
New regulations mandating the central clearing of OTC derivatives bring operational risks for central counterparties and increased exposure to systemic risk. In the second of a two-part series, ORR looks at the problems and opportunities for clearing…
BMO's David Fletcher: advancing on the AMA
In advance
Cole: FCA will be more interventionist than FSA
Margaret Cole of the FSA tells participants at a CSFI event that a change in culture from the FSA to the FCA will allow for a more proactive regulator
Lloyds abandons AMA
Lloyds has abandoned the AMA after trying to combine two models, losing key staff and coming under scrutiny from regulators
OpRisk Europe: Reporting key to competent risk management
Reporting is key to competent risk management, yet is often neglected, New York Fed op risk specialist warns
OpRisk Europe: Fairness fights fraud, conference told
Firms can mitigate the risk of employee fraud by paying attention to their infrastructure and culture and also to the employees themselves, according to psychologist Adrian Furnham
Industry resists Dodd-Frank real-time reporting
While the Dodd-Frank Act calls for real-time trade reporting, industry insiders argue it will be misleading
OpRisk Europe: Incorporating legal risk "not a done deal" at Deutsche
Rob Nagra of Deutsche Bank tells of the tough journey Deutsche have had to get legal risk recognised as operational risk, while another international bank has found it easy
OpRisk Europe: clear risk lines vital, Wymeersch says
Eddy Wymeersch calls for independent risk function at top level
OpRisk Europe: EBA calls for common approach on CRD
Bernd Rummel describes EBA push for Europe-wide approach to capital rules
Oric and ORX in talks regarding possible merger
Oric and ORX have been in talks for more than a year regarding a possible merger of their operational risk data platforms
Only 15% of financial institutions have management information resources in place
Firms do not have MI risk programmes in place to deal with upcoming regulations, according to a report by think-tank JWG
Ease of bank switching could cause systemic risk
Meeting consumers' demands for easier bank account switching could increase the risk of a bank run, insiders fear
Firms face heightened op risk while implementing US CCP rules
Through a glass darkly
Mortage company chair convicted on 14 counts of fraud
Sigtarp says: "This is the most significant criminal prosecution to date rising out of the financial crisis"
Sentences handed down in Omni fraud case
Delroy Davy convicted of bank fraud, sentenced to 14 years in prison
SEC charges three execs in California with boiler room fraud
mUrgent Corporation and three of its executives charged with $10 million fraud
UBS ordered to pay $160 million in fines by SEC
Swiss bank charged with undermining the competitive bid process of municipal securities
British banks ring-fence more than £5 billion for PPI compensation payouts
Banks will not appeal decision of judicial review regarding complaints against them and have set money aside for settlements
SEC appoints director for national broker-dealer examination programme
Will oversee a staff of about 300 responsible for the inspections of US-based broker-dealers
Poulos joins Citi as global head of business continuity
Says crisis management is 'vital' part of new role
AIB refunds €8 million to ATM customers
Billing errors have caused Allied Irish Bank to rethink its ATM anti-fraud strategy
Sheer volume of new regulations is 'risk in itself'
Banks struggling to cope with implementing the wave of new legislation might miss indications of another crisis