October 7, 2011 - In July and August 2011, RiskBusiness International undertook an electronic survey amongst risk management professionals working in the global financial services industry to rate their regulator, anonymously, on its performance in several categories relating to operational risk supervision and oversight: Clarity and completeness of regulations; conformance of regulations to Basel II and Solvency II; approachability; detailed knowledge of operational risk management; consistency; level of guidance provided; fairness; degree of home-host regulator interaction; industry discussion and consultation; and staff turnover.
October 6, 2011 - Risk systems did pick up suspect activity at UBS related to the recent loss of $2.3 billion through unauthorised trading but the information was not properly acted on, according to an internal investigation.
October 6, 2011 - Global regulators should use technology to collect data on events such as the "flash crash" and use that information to regulate trading risks, according to the head of Canada's self regulatory agency.
October 6, 2011 - Cloud computing has both positive and negative information security implications for federal agencies. Potential information security benefits include the use of automation to expedite the implementation of secure configurations on devices; reduced need to carry data on removable media because of broad network access; and low-cost disaster recovery and data storage.
