by David Schwartz J.D. CPA, Executive Director | Jul 19, 2012 | All
According to a June survey conducted by KPMG LLP, enterprise risk management processes of many major financial services firms are surprisingly manual – perhaps dangerously so. The survey results are somewhat unexpected given that the financial services industry...
by David Schwartz J.D. CPA, Executive Director | Jul 15, 2012 | All, Disclosure Regimes, Formal Regulatory Remedies
On July 11, the CFTC approved its much awaited final rule implementing the end-user exception from mandatory clearing of swaps. The new ruleslay out parameters of the end-user exception by (1) defining the term “hedging or mitigating commercial risk” and (2)...
by David Schwartz J.D. CPA, Executive Director | Jul 12, 2012 | All, Formal Regulatory Remedies
In his July 4 address before the Europlace Financial Forum, European Securities and Markets Authority (ESMA) chair, Steven Maijoor, announced that ESMA would be proposing standards implementing regulation of OTC derivatives, central counterparties and trade...
by David Schwartz J.D. CPA, Executive Director | Jun 26, 2012 | All, Formal Regulatory Remedies
The UK’s Treasury has published a white paper setting out how the government intends to implement the recommendations of the Independent Commission on Banking (the Vickers Report). The paper offers further detail on plans to separate retail and investment...
by David Schwartz J.D. CPA, Executive Director | Jun 24, 2012 | All, Formal Regulatory Remedies
The Board of Governors of the Federal Reserve System voted on June 7 to approve proposed rules intended to implement the regulatory capital standards promulgated under “Basel III: A Global Regulatory Framework for More Resilient Banks and Banking Systems.” These...
