4433 Results from /regulation
Angus Stewart CEO at www.e-solutions.uk.com
Possibly illegal, certainly immoral – Do insurance companies need to look again at their role in escalating premiums? The recent revelations by former Justice Secretary Jack Straw that he has been advised by senior executives within the car insurance industry that they receive “referral fees” from no win no fee personal accident legal firms is, in ...
29 June 2011 /security /regulation
Retired Member
The proposed surcharges I mentioned last week are on the books. The surcharges, between 1 percent and 2.5 percent of risk-adjusted assets, are meant to protect banks from themselves in the case of another financial crisis. "The surcharge comes on top of the worldwide Basel III minimum of 7 percent set last year for all banks," according ...
28 June 2011 /regulation
Something is better than nothing, at least according to the U.S. Securities and Exchange Commission. All of the nation’s exchanges may soon install a circuit breaker for each domestic stock, now that the SEC last week expanded measures to avert another flash crash. A trading algorithm run amok caused the flash crash, casting a dark and enduring ...
It appears that someone took the side of the underdog when NATO somewhat foolishly chose poor words in a report where 'infiltration & persecution' were the recipe for hurt feelings. Besides the fact that 'persecution' is specifically prohibited by the UN, NATO, in a glaring show of their Freudian slip chose the wrong words, which resulted in t...
28 June 2011 /security /regulation Whatever...
Nikhil Mittal Financial Crimes Consultant at Wells Fargo
My first few days of stay in one of the worlds most developed economies USA, has made me think in a lot of different directions related to the methodical ways of doing things here. It feels like a CMM Level 5 country with so many processes / methods to do things and everything well organised and recorded in all facets of day to day life, not to me...
27 June 2011 /regulation Innovation in Financial Services
Earlier this month the Financial Times reported that UK market regulators fined a commodities broker for “market abuse” for the first time—a sign that the Financial Services Authority is cracking down on price manipulation. (http://on.ft.com/iuSz1S) In the US, the banking industry has been captivated by last month’s prosecution of Raj Rajaratnam of...
25 June 2011 /regulation Financial Services Regulation
I have just been reading the new guidance provided by the PCI SSC on Virtualisation. This document has been long anticipated, having been pre - announced at the PCI SSC User Forum back in October 2010. The document includes advice for local virtualised servers and environments as well as advice for those merchants considering a wholesale switch t...
23 June 2011 /security /regulation Information Security
There’s no doubt that cyber criminals are becoming increasingly proficient in bypassing traditional fraud prevention tools. Recently the Financial Times reported on the attack on Citigroup – which compromised the account names and numbers of 200,000 Citi card customers – and a survey carried out by Unisys in the first quarter of 2011 reported a...
23 June 2011 /security /regulation
At Thomson Reuters we are constantly talking to financial institutions to feel the pulse of market trends and their impact on application technology for the capital markets. One theme in particular has been repeatedly coming across over the past few months, spanning a variety of market participants, geographies and segments. Namely, that in the po...
23 June 2011 /regulation
Change is in the air for banks, and it could take the form of mandated increases in capital requirements, as well as new surcharges. Unlike 2008, financial institutions classically deemed “too big to fail” would have the means on hand to bail out themselves -- or at least subsidize taxpayers’ efforts to clean up the mess. For instance, , accordi...
20 June 2011 /regulation
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