Risk Management
JPMorgan changed risk strategy last year, says regulator
June 6, 2012 - A top federal regulator says that starting late last year, JPMorgan Chase changed its strategy aimed at containing risk. His agency is examining whether the bank's policies were inadequate before it suffered a $2 billion-plus trading loss this spring.
Countering the Risk of Counterparties: Emerging Trends, Practices, and Technology in CVA Management
June 6, 2012 - Globally, Celent expects firms to spend in excess of $850 million in 2012 on counterparty risk and CVA management systems, rising at a CAGR of 9.6% to $1.1 billion in 2015.
Failed hedging strategy cost JP Morgan $2bn
May 11, 2012 - JP Morgan Chase & Co lost a minimum of $2 billion during a failed hedging strategy, it has emerged. Jamie Dimon, chief executive of the major US bank - which holds global assets of $2.3 trillion - revealed the company has suffered eight-figure losses in its synthetic credit portfolio in the last few months.
Cybercrime a growing risk for FS firms - PwC survey
March 27, 2012 - Cybercrime is a growing threat to financial services firms and is now the second most common type of economic crime the industry faces, according to a PricewaterhouseCoopers survey.
Banks 'tightening up risk strategies'
May 30, 2012 - Ongoing uncertainty in the global financial system is causing banks to become increasingly selective over how they conduct their business, experts believe.
Fed 'critical of US banks' risk models'
May 1, 2012 - Several major banks across the US have faced criticism during their Federal Reserve stress tests, it has been said. Sources with knowledge of the situation have told Bloomberg that some of the 19 largest financiers that underwent examinations by the Fed were questioned about the way in which they had planned their dividends and calculated losses.
Isitc members to boost IT spending
March 12, 2012 - Financial industry association Isitc says that nearly two thirds of its members plan to increase their information technology spending over the next two years as regulatory compliance continues to dominate the agenda.
International Compliance Association launches new cyber security qualification
May 22, 2012 - The International Compliance Association (ICA) announces the launch of a brand new qualification: the ICA Advanced Certificate in Cyber Security.
European Hedge Funds Cite Risk Management as Top Priority for 2012
April 24, 2012 - Risk management is set to play a crucial role in the functioning of European hedge funds, according to a survey conducted by Omgeo and Hedge Funds Review. Almost all of the hedge funds surveyed (94%) believe that demonstrating robust risk management capabilities will be of critical (52%) or moderate (42%) importance to the fund-wide efforts to raise assets in 2012.
IDC: Comment: From Today, Google Knows You're a Dog
March 2, 2012 - "On the Internet, nobody knows you're a dog" was the caption on a famous cartoon by Peter Steiner published in The New Yorker in 1993. It encapsulated a belief that persists to this day — that you can hide your true identity on the Internet. However, it is increasingly harder for anyone to hide their identity. We all give up data about ourselves of varying degrees of sensitivity in return for using "free" services.
Intra-day Risk Management Presents a Challenge to both Buy-side and Sell-side
May 17, 2012 - Today FINCAD released the results of its third annual finance survey, which demonstrated that intra-day risk management is an important requirement for both the sell-side and buy-side.
SEC Charges Goldman, Sachs & Co. Lacked Adequate Policies and Procedures for Research “Huddles”
April 12, 2012 - The Securities and Exchange Commission today charged that Goldman, Sachs & Co. lacked adequate policies and procedures to address the risk that during weekly "huddles," the firm's analysts could share material, nonpublic information about upcoming research changes.
RiskAdvisory Strengthens Dodd-Frank Compliance Focus
February 29, 2012 - RiskAdvisory, a division of business analytics leader SAS, today announced it is strengthening its market-leading Dodd-Frank regulatory response with the addition of Patrick Woody as Senior Strategist for Regulatory Risk Compliance. Woody comes to commodity trading and risk management (CTRM) solutions provider RiskAdvisory from parent company SAS, where he assisted energy and utilities companies with risk management and regulatory issues.