4310 Results from /regulation
Sriram Natarajan Risk Dog at Credit Risk Fraud Cards Professional
So, the world's most sought after junket in Davos has come to a close. The economic bigwigs, CEOs, intellectual heavyweights have returned after a week of heavy duty deliberation on climate change, financial markets, sub prime, recession, emerging markets, and........... Among the many readable publications by WEF, my own favorite is the Global R...
01 February 2008 /regulation
Keith Appleyard IT Consultant at available for hire
Here we are over 2 months after the initial Child Benefit fiasco; you would think the HMRC would have introduced controls to accept encrypted media? The Information Commissioner just issued Marks & Spencer with an Enforcement Notice giving them until 1st April 2008 (ie only 2 months) to complete encryption of all their laptops http://www.ico....
01 February 2008 /security /regulation Whatever...
Gary Wright Analyst at BISS Research
In 2005 I attended an event where Nick Leeson provided an honest and forthright presentation of how he managed to create the dealing positions that eventually brought down Barings Bank. He consistently maintained that he could not have carried through his actions, which caused the loss, without the senior management's lackadaisical attitude or eve...
Alan Goodrich Regional Sales Manager at ERI
Seriously, those of faint disposition should have a cushion handy to hide behind! How often do we read about and debate the moral dilemma of mere mortals "playing God" in areas such as medicine, e.g. stem cell research, and physics, e.g. creating anti-matter – but do we ever have that debate in financial services? On the publicly availabl...
01 February 2008 /regulation Trends in Financial Services
On 5th March 1995 Dutch banking and insurance group ING bought Barings for £1 and assumed liabilities of over $600m. According to some McKinsey research presented by Mark Lawrence at a PRMIA event I attended in London on 18th December 2006, based on a sample of more than 350 operational loss events, normalized for industry performance, the decline ...
28 January 2008 /regulation Trends in Financial Services
Biff!! Bang!! Kerplunk!! -..... These would be annotations if a comic book artist were to draw a strip on last week's events in the financial markets. The industry now looks like how the Roman Army is shown after an encounter with Asterix and Obelix in the famous comic series! We had hardly got over our chills over 'Black Tuesday' - when we have a...
26 January 2008 /regulation /retail
Paul Penrose Head of Research at Finextra
This just in: January 2008, Incisive Media's annual Risk Awards black-tie dinner. "Last year was the most volatile since 1998, with rising delinquencies in the US subprime mortgage market causing banks to rack up billions of dollars in losses. Risk recognises those institutions that weathered the storm, and continued to provide liquidity and ...
25 January 2008 /regulation /wholesale
Retired Member
Reports have emerged that the rogue trader responsible for the EUR5 billion trading loss at Société Générale is 30-year-old Frenchman Jérome Kerviel. Apparently sources within the bank leaked the name to the press. The incident is, inevitably, being compared with previous rogue traders, particularly Barings Bank rogue trader Nick Leeson. In his ...
24 January 2008 /regulation
Elton Cane Digital product delivery at News Corp Australia
The SocGen fraud story, which is flabbergasting the industry and providing a distraction from credit crunch woes and hand-wringing about the dangers of overly complex structured productios, is remarkable for a number of reasons. The losses don't come from any exotic OTC dealings. Instead, the trader was dealing in plain vanilla futures on European...
24 January 2008 /regulation /wholesale
At US$ 100 oil-a-barrel lots of opportunities can be visible. Every alternative energy / research project on earth was looking expensive at $28 or $36 or $46. But what about $ 60-70-80-90 and now intermediately at $100? Prices are varying everyday and how long one should wait? Do Banks have alternative energy divisions? Has anything done beyond r...
15 January 2008 /regulation /wholesale Going green
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