Collaboration and risk sharing through industry sponsored centralized facilities, i.e. clearing houses, central securities depositories, payment and netting systems, and central counterparties, has been used extensively in the financial services industry. However, it has only been applied to the...

The resetting of the risk management agenda through successive capital accords has had little impact on the ability of many firms to prevent losses which raises concerns as to whether the risk calculation methods applied in the calibration of regulatory capital are fit for purpose. This has been...

Regulators and financial institutions must focus the financial industry on significant systems investments to prevent current and future cyber infrastructure threats. This paper organizes the latest research and views on cyber-risk management to enable insights into frequency and severity of...

Setting proprietary standards for elemental data components of financial transactions, once the province of market participants and intermediaries, their sovereign regulators, and software and data vendors, have evolved into a global open source standards requirement. Global data standards...

In the period following the global financial crisis high profile regulatory breaches and other instances of banks' misconduct triggered widespread concern that the culture and standards of conduct in banks had declined to a point of unacceptability. The crisis also brought into sharp focus the...

Global interest in creating a unique, unambiguous and universal identification system for all financial market participants and the instruments and contracts they manufacture, trade, own and process has met with universal acceptance. For regulators these ‘Barcodes of Finance’ (the unique...

New regulations are imbedding operational risk concepts and the provisioning of operational risk capital in the risk management considerations of globally active financial enterprises. Inherent in new capital calculations is the effect of losses due to faulty reference data, data which is costly...