Solvency II

The ABC of ORMs

Creating an effective operational risk management (ORM) framework is essential for the institution looking to stay afloat in today’s volatile op risk environment. Gene Álvarez provides an in-depth analysis of how such a framework can be put in place

In a muddle over MiFID

The EU’s Markets in Financial Instruments Directive (MiFID) has appeared like a bolt from the blue for most op risk managers. Should they be scared? By Duncan Wood

Consolidated supervision row brews

BRUSSELS -- European financial services associations are furious that the compromise text produced by the European Council on December 7, 2004, for the capital requirements directive (CRD) did not modify the European Commission’s proposals on…

CAD makes slow progress through Parliament

BRUSSELS -- The progress of the Capital Adequacy Directive (CAD) in the European Parliament remains slow. Although the European Commission (EC) was keen to have the legislation voted on before the summer, its introduction for official discussion has been…

From Basel II to Basel III

Financial institutions face major challenges in modelling credit portfolio risk, particularly in the field of CDOs. Walter Schulte-Herbrüggen and Gernot Becker argue that the main challenge will be in model testing, due to the increasingly customised…

The game of life

UK life insurers have faced a new regulatory regime in the aftermath of the guaranteed annuity options disaster, which has led them to rethink their use of derivatives. Nicholas Dunbar talks to four leading life companies

Oiling the wheels

Bribery and corruption is a hot topic, not least in the energy sector. Energy Risk this month looks at recent high-profile cases and what governments are doing to combat the problem. By Daren Allen and Kelly Williams

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