4238 Results from /regulation
Paul Penrose Head of Research at Finextra
Henry Blodget, the former star techstock analyst who knows a thing or two about investment fraud, posts an interesting insight to the Madoff affair on his Clusterstock blog. "Specifically, we're hearing that the smart money KNEW Bernie had to be cheating, because the returns he was generating were impossibly good. Many Wall Streeters suspect...
19 December 2008 /regulation
Retired Member
The status of gold changed yesterday December 16th when the Fed slashed rates to zero or near zero. Gold lost the remaining of its commodity status for a full investment status. Can gold evolve back to its monetary status as well? With no interest paid on dollar, why would anyone want to hold any? Risks are high, curves remain steeply positive. The...
18 December 2008 /regulation
Some choice quotes from squeaky-clean Bernie Madoff on the trials of doing business in the modern financial system. "Whenever I go down to Washington and meet with the SEC and complain to them that the industry is either over-regulated or that the burdens are too great they all start to roll their eyes just like our children do when we talk ab...
18 December 2008 /regulation /wholesale Video extravaganza
I've never received a letter quite like the one I received, over the weekend, from one of my credit card providers. It started with the sentence "Please sign and return the attached application form today to be entitled to a copy of your personal Credit Report." No point in beating about the bush, I guess. None of the flowery rhubarb y...
16 December 2008 /regulation /retail Transaction Banking
Richard Barr Principal Associate at Citadel Advantage Ltd.
I just had a friend phone me to tell me that after almost 12 years at the same firm, he's being laid off. I had another friend phone me yesterday to tell me how horrible his job is now. A couple weeks ago, the British newspapers screamed about 20,000 financial industry jobs evaporating overnight. But does this mean that all is gloom & doom? We...
15 December 2008 /payments /regulation
If anyone needed convincing that interfering with 'proper' lending decisions by forcing banks to lend makes things worse, they need only look at the latest HBOS numbers. Huge increases in bad debts from dodgy loans and yet the authorities here want them to turn the taps on again...? At the moment, a lending banker must surely be asking searching ...
12 December 2008 /regulation /retail Transaction Banking
Elton Cane Digital product delivery at News Corp Australia
Earlier this week The Guardian had an interesting piece on the bonus culture at investment banks. The Financial Services Authority has written to the chief executives of major firms to urge them to review pay policies to ensure they take account of the risks being run by traders. And UBS is already moving in this direction by devising a system th...
12 December 2008 /regulation /wholesale Innovation in Financial Services
Gary Wright Analyst at BISS Research
Despite what you hear and read about SEPA it is a fact that it has failed to achieve any notable volume since it went live. At a recent conference chaired by yours truly a number of eminent speakers from the upper echelons of banking finally agreed in public under examination that there has only been 2.5% of possible volume of SEPA Credit Transfer...
12 December 2008 /regulation /sibos EBAday
Keith Bear Vice President, Financial Markets at IBM
On perusing an email from Lepus some weeks ago I was struck by the title of one piece of their research "VaR, what is it good for!" Having been involved in working with several banks on market risk implementations a decade ago, I remember the mathematical simplicity and purity of VaR models had at the time, the impact that the original Ri...
01 December 2008 /regulation
John Cant Managing Director at MPI Europe Ltd
The demise and subsequent break up of Lehman Brothers will provide strong case study material for many MBA courses, for many years. There are several lessons to be learnt beyond the crucial role of customer confidence in business success. For example, there are the difficulties involved in splitting or decoupling the heavily centralised Lehman IT ...
30 November 2008 /regulation /wholesale MiFID
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