Federal Reserve Board proposes steps to strengthen regulation and supervision of large bank holding companies
December 20, 2011 - The Federal Reserve Board on Tuesday proposed steps to strengthen regulation and supervision of large bank holding companies and systemically important nonbank financial firms. The proposal, which includes a wide range of measures addressing issues such as capital, liquidity, credit exposure, stress testing, risk management, and early remediation requirements, is mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Japanese regulator slams Citi's risk management IT
December 19, 2011 - Citi has been ordered to overhaul its risk management systems by Japan's Financial Services Agency, which has sanctioned the US bank for the way it has tried to sell investment products to retail customers.
Dodd Frank and EMIR unlikely to reduce systemic risk, says industry
December 5, 2011 - OTC clearing reform will not reduce systemic risk, according to 50% of market participants surveyed at a recent industry debate. Nevertheless, 79% have identified the need for collateral optimisation within their organisations, driven by regulatory changes on the horizon.
More cloud, increased investment in risk management and continuing concerns over regulation
December 1, 2011 - Linedata (NYSE Euronext: LIN), the global solutions provider dedicated to the investment management and credit industries, today announced the results of its Annual Global Investment Management Survey. Key findings include the recognition of regulation as a present and future challenge; a clear move towards cloud computing and hosted environments; plus risk and trading systems as top IT priorities. Despite a small number of downbeat pronouncements, the majority predicted market growth in 2012.
Banks’ risk management technology spending to reach $74bn by 2015
November 8, 2011 - Technology investments in risk management infrastructure by banks will reach $74 billion by 2015, a report has revealed. A study by IDC Financial Insights showed that growth in risk management spending will be faster than the total amount of investment in technology within the financial services sector.
CFTC and SEC Approve Confidential Private Fund Risk Reporting
October 31, 2011 - The Commodity Futures Trading Commission (CFTC) today approved a final rule requiring certain advisors to private funds that are dually registered with the CFTC and the Securities and Exchange Commission (SEC) to report information to the SEC for use by the Financial Stability Oversight Council (FSOC) in monitoring risks to the U.S. financial system. The SEC approved the joint rule on October 26, 2011.
UBS admits to breakdown in risk control systems
October 25, 2011 - In the wake of its recent $2.3 billion loss through unauthorised trading, Swiss bank UBS has admitted that internal controls were "not effective".Today UBS posted a third quarter net profit of $1.1 billion, down 39% on the same period the previous year, after the scandal allegedly involving London-based trader Kweku Adoboli.
Nine out of 10 Bankers Not Confident over Stress Testing
October 25, 2011 - Sybase, Inc., an SAP company (NYSE: SAP) and industry leader in enterprise and mobile software, today announced results of a survey showing that more than nine out of 10 capital markets executives lack confidence in bank stress testing, while more than 75 percent are struggling to capture trading system data.
