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Issue #14

Issue #14Editor's Letter - Instant not private: Instant messaging evidence has once again been exposed as the vehicle for condemning traders at RBS for fixing Libor rates.
 
News: The Libor “cartel”; South Africa shifts to twin-peaks regulation; EBA issues Living Wills guidance; Deutsche Bank settles with FERC; Tribunal upholds Swift Trade fine; IIF urges regulatory coordination; Counting the cost of mis-selling.
 
Opinion - That that is, is: Howard Stein shares his views on the perceived advantages of ringfencing retail banking operations.
 
Spotlight - Breaking up the banks: German, France, the UK and the US have all put in motion legislation for separating banks’ investment activities from the retail areas of the group. Regardless of lobbyists claims this will not solve the “too-big-to-fail” problem, ringfencing is here to stay and firms need to be prepared.
 
Managing cloud computing risks: New technology is perhaps the most in need of stringent risk management, cloud technology specifically heightens operational risk exposure and its encroachment into large scale organisations – welcome or not – is happening and firms need to be prepared.
 
Sharing scenarios - Inadequate oversight on the sales practices of authorised distribution channels and representatives: This month’s scenario looks at the inadequate oversight of sales practices by distributors and representatives. Also find out last month’s scenario industry benchmark.
 
Dear CEO: Every month an anonymous chief risk officer of a financial services firm writes a letter to his CEO detailing some of the issues he has always wanted to raise.
 
Risk classifications - Market or trading rules violations: Classifying losses stemming from market or trading rule violations, which has been highlighted by what is becoming known as the “IBORs Scandal”.
 
Classified: Find all your job advertisements here alongside information on upcoming industry events and The Risk Universe monthly comic.