 | Editor's Letter - Off with their heads!: The word “Banksters” has entered common parlance. News: FX manipulation fines exceed LIBOR; News Review; Operational Risk Event Timeline; Six banks fined for FX failings; Bank of England fires chief FX dealer Spotlight - Fixing the culture problem: The multi-billion foreign exchange market manipulation fines have politicians and regulators again promising the fix the broken banking culture. Victoria Tozer-Pennington asks whether culture can be regulated. Focusing on the risks: External operational risk events are just that – incidents that happen outside the firm. We shouldn't be too concerned about them… or should we? Who owns regulation?: Meredith Gibson, Head of Legal Risk at Santander UK, and Helen Pykhova, Director of The Op Risk Company and Chair, Operational Risk Committee at the Association of Foreign Banks, ask who owns regulation or what happens if nobody does? How To... Build a legal risk framework: Matthew Whalley sets out the four essential elements for creating an effective legal risk management framework. ORIC International's operational risk landscape: New data from ORIC International provides a unique insight into the loss profile of the insurance industry for benchmarking purposes Sharing Scenarios - Shareholder lawsuit due to mismanagement: This month the scenario explores the potential implications of a lawsuit against the firm and/or its senior executive management by shareholders. Risk Classifications - Intellectual property infringements by third party: RiskBusiness’ Mike Finlay explores third party acts that prejudice the firm’s intellectual property rights. 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. |
