This is a crucial year for the Dodd-Frank Act. More than 70 percent of its required rulemaking is either proposed or finalized, on track to take effect in the weeks and months ahead. For the first time, enough pieces of the regulatory reform puzzle are snapped into place to make an early assessment of if […]
Risk Management
Posted inRisk Management
Saxo Bank Names New Global Head of Finance, Risk Operations
Denmark-based Saxo Bank, an online trading and investment specialist firm, has named Steen Blaafalk as global head of finance and risk operations, effective April 22. In this role, Blaafalk will be responsible for all legal and compliance, finance, risk management and business intelligence within the bank. He also will be a member of the board […]
Posted inRegulatory Enforcement
Nasdaq Will Use Kill Switches to Halt Trades, Prevent Flash Crashes
Responding to hardware and software glitches that have led to mini market meltdowns in recent years, Nasdaq is looking to implement a “kill switch” to instantly halt questionable trades. A proposed rule change filed with the Securities and Exchange Commission by the exchange’s parent company, Nasdaq OMX, seeks permission to make offer the risk management […]
Posted inRisk Management
FCPA Focus Will Test the Compliance Function
Compliance officers, legal counsel, senior operating management, and boards of directors know well the importance of an effective compliance program. With the myriad of laws and regulations already in place and still more on the way, those groups are all devoting more attention to what’s needed to ensure compliance. These days, there’s no law that […]
Posted inAccounting & Auditing
Federal Reserve Rule Sets New Standards for Foreign Banks
The Federal Reserve Board has approved a final rule intended to strengthen the supervision and regulation of large bank holding companies and subject foreign banks doing business in the U.S. to the same standards. The rule establishes enhanced prudential standards for the liquidity, risk management, and capital of those institutions, with an eye towards increase […]
Posted inAnti-Bribery
Study: Companies Still Lag in Third-Party Due Diligence Efforts
Corruption and bribery risks posed by third-parties are expanding rapidly for global companies, and yet compliance and legal departments are still lagging on the due diligence they perform on their third parties. That’s according to the findings of a recent anti-corruption study by professional services firm AlixPartners, which surveyed more than 250 general counsels, compliance […]
Posted inRisk Management
NASDAQ OMX Launches New Risk Management Platform
The NASDAQ OMX Group and its Access Services have announced the availability of TradeGuard, a comprehensive solution for all levels of risk management and an expansion of the enterprise risk management platform formerly known as FTEN. TradeGuard will allow customers to choose from a broad product suite for a range of risk management support, from […]
Posted inRisk Management
Susquehanna Bancshare Names Chief Risk Officer
Susquehanna Bancshares, a financial services holding company with $18 billion in assets, has hired Kevin Burns to the newly-created role of chief risk officer. In this role, Burns is responsible for enterprise risk management, corporate compliance, security, information security administration, business continuity, insurance risk management, community reinvestment, and credit review. He serves as a member […]
Posted inRisk Management
Walmart China to Strengthen Vendor Compliance Processes
Walmart announced this week that it is upgrading its vendor compliance processes in China, following a report by state-owned China Central Television, criticizing the retail giant for circumventing quality-control processes. In a statement, Walmart said it “has been increasing its vendor compliance procedures over the last two years and will now add further steps to […]
