Governance
Commerzbank fiasco offers lessons to compliance and boards
Governance failures and weak compliance at heart of $1.45bn fine
Cyber may intimidate boards, OCC's DuChene warns
Lack of cyber expertise intimidating
High governance funds find success in low governance stocks
But the high/low governance spreads of stocks are positively related with non-hedge fund ownership
BSI standard promises protection against bribery liability
New UK national standard will serve as a defence against charges of inadequate anti-bribery precautions
Insurers grapple with model complexity pressures
Insurers’ risk and investment models are becoming more sophisticated – but will greater complexity limit their usefulness? Blake Evans-Pritchard reports
Op risk function plays large part in new business approval, says survey
Operational risk managers are heavily involved in new business and change management, but play a less conspicuous role in the front office, according to an Operational Risk & Regulation survey
White paper: Open source governance in highly regulated companies
Open source software can empower developers, increase innovation and improve competitiveness, and its popularity is growing tremendously. Open source now represents an average of 29% of the code deployed by IT and technology innovators are using 60%–80%…
Italian bank boards: empowered, professional and accountable?
In Italy, bank governance is handicapped by the composition of the boards of directors, argues Federico Bottarelli Bernasconi
Case study: Friends Life’s investment governance framework
Breathing new life
Regulators could focus on ETFs after UBS losses
Regulators could take some time to change the rules surrounding the exchange-traded products involved in the UBS rogue-trading losses, but banks might see an impact soon in capital terms
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
Insurers lack confidence in Solvency II data
Only 21% are highly confident about model data quality
BBVA given deadline to improve AMA model
BBVA has been given until December 2011 to make improvements to its AMA model by the Bank of Spain, or will not obtain the capital savings the AMA allows
Marrying economic imperatives with sustainable values
Lost in translation
Change of governance
Change of governance
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
Video: Market risk reporting requires standardisation, says Risk Europe keynote speaker
A plethora of methodologies for reporting market risk in annual reports makes transparency impossible, says Sanjay Sharma at Risk Europe in Brussels
Collection of videos from the Risk Europe 2011 conference
A selection of videos from the Risk Europe 2011 conference on April 5 & 6 in Brussels, Belgium
The ORR Innovation Awards 2011
ORR recognises those in the operational risk management profession who are working to ensure op risk keeps developing, and that it stays high on management’s agenda
Dealers fear client data leaks via repositories and regulators
Names of derivatives counterparties and deal details could wind up in the public domain, unless regulators are bound by data controls, industry argues
S&P launches social responsibility index for Middle East and North Africa
S&P launches social responsibility index for Middle East and North Africa
Brazilian banks expand governance as regulators tighten up
Family affairs
IMF in bid to strengthen governance of cross-border capital flows
IMF executive directors support greater Fund role in surveillance of cross-border capital flows and creation of rules for capital account policies
Sound Practices paper updated by Sigor
Long-awaited redrafted paper on Sound Practices for Operational Risk Management released for consultation by Sigor.