4170 Results from /regulation
Roy McPherson
When we were at Sibos we enjoyed a team dinner in a local restaurant. As the topics of the day were mulled over somewhere up popped a contentious question "If the Greeks default, and Greece disengages from EUR and reverts to the GDR, would back office systems cope"? As the discussion raged back and forth, buoyed by the odd jar or two, i...
05 October 2011 /regulation /sibos SWIFT Matters
Retired Member
Motivated by years of recession or a few terrifying minutes of market depression, last week was exciting for remedial action by regulatory authorities. Large financial institutions are looking at higher capital reserves, and traders are more likely than ever to see older circuit breaker rules give way to new ones. Cash or Surcharge? The world’s to...
04 October 2011 /regulation
Robert Siciliano Security Analyst at Safr.me
In 1990, when only the government and a number of universities were using the Internet, there were 357 unique pieces of malware. The need for security began with desktop computing when the only means of compromising data was by inserting a contaminated floppy disk into a PC or opening an infected email attachment. That was the anti-virus era. The ...
02 October 2011 /security /regulation
There’s no way around it – EMV transition planning will be complicated. However, while EMV is a complex specification, the good news is that it can grow over time. Thus the key is to implement an infrastructure that lets you start with a simple, single portfolio that can expand and mature with you. Looking forward, the goal is to do it once, do it...
30 September 2011 /regulation
Gary Wright Analyst at BISS Research
Outsourcing collateral management appears to be an odd thing to do. Why would financial institutions outsource such a fundamental part of their operations? Bank of New York Mellon is the largest supplier of outsourced collateral management in the world and has trillions of dollars a day under its management control. It would not be going too far t...
28 September 2011 /regulation Post-Trade Forum
Back-and-forth, side-to-side. The “limit up-limit down” measure of preventing another Flash Crash is down one minute and back up the next. It seems to be back up at the moment, after financial services leaders and regulators met at a Securities Industry and Financial Markets Association (SIFMA) conference last week. A U.S. Securities and Exchange ...
27 September 2011 /regulation
The UBS rogue trader has once again brought risk to the forefront of banks thinking. No doubt the usual hand wringing, system reviews and updates will be the response to the anticipated regulatory crack down. Banks around the world will be undertaking risk reviews and analysing their own operational processes and practices and as with many times p...
26 September 2011 /regulation Post-Trade Forum
What a difference US$2.3 billion makes. The CEO of UBS could have been enjoying the Singapore Formula One Grand Prix this weekend. Instead, Oswald Grübel, the chief executive of a sponsor for racing’s highest class, met in the city-state on Tuesday with his bank’s largest shareholder. Sure, a UBS board meeting was already scheduled in Singapore for...
21 September 2011 /regulation
When it comes to liquidity risk management, financial institutions suffer from the Goldilocks syndrome. In the fairy tale, Goldilocks first tasted a bowl of porridge that was too hot, then she tasted a bowl that was too cold and finally she found a third bowl that was just right. It is the same with the balance of liquidity for financial institut...
21 September 2011 /regulation /sibos
Fraud is much like a balloon – if you squeeze one end (through new tools, policies, strategies), the pressure builds and “balloons” out elsewhere. For banks it means fraud moves to another channel, payment type, pattern, or maybe even hopefully to another institution, such as online fraud, account takeover or identity theft. Criminals test for the...
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