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Basel Committee issues revised framework for market risk capital requirements

14 January 2016

The Basel Committee on Banking Supervision has today issued the revised minimum capital requirements for market risk as agreed by its oversight body – the Group of Governors and Heads of Supervision (GHOS). The revised market risk framework is a key component of the Basel Committee’s overall efforts to reform global regulatory standards in response to the global financial crisis. Continue reading…

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BIS appointed Poloz for the Americas

10 January 2016

The Board of Directors of the Bank for International Settlements (BIS) has appointed Stephen S. Poloz as Chair of the BIS Consultative Council for the Americas (CCA). Mr Poloz is Governor of the Bank of Canada. Mr Poloz’s appointment is for a term of two years as from 9 January 2016.

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John Hurrell

Guide to the Insurance Act

08 January 2016

Airmic has produced its long-awaited guide to the Insurance Act, which is being sent to all members and partner organisations. The key message to risk managers is that it is up to them to take control of the buying process. The guide urges corporate insurance buyers to start preparing for the Act now, instead of waiting until August when it comes into force or for their brokers and underwriters to give them the necessary advice.

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Carin Gorter

Carin Gorter decided to withdraw

29 December 2015

Bas Brouwers will join Rabobank on 1 January 2016 as Chief Financial Officer (CFO). The regulators have given their approval for the appointment. From 1 January 2016 Wiebe Draijer, chairman of the Executive Board, will take on the role of Chief Risk Officer (CRO) ad interim. Bert Bruggink, whose tasks as Chief Financial and Risk Officer (CFRO) are to be split, will step down as CFRO on 31 December 2015. He will continue to work for Rabobank in an advisory capacity to the Executive Board.

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Renewed governance of The Hague Security Delta

17 December 2015

As of 1 January 2016, Wim Kuijken will be appointed as independent Chairman of the Board of The Hague Security Delta Foundation. He will succeed Jozias van Aartsen, Mayor of The Hague. This fits the new governance of HSD and the further establishment of HSD as national security cluster with three important regions: Brabant, Twente and The Hague. The appointment marks the next phase in the development of HSD.

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New study reveals alternative finance knowledge gap

17 December 2015

Intelligent Partnership have found that the Alternative Finance industry needs to do much more to reach out to advisers. Although 73% of the Alternative Finance providers IP surveyed stated that they were either already marketing to financial advisers, or planned to do so in the future, the vast majority of advisers were still unaware of key industry developments. Only 7% of advisers surveyed realised that Alternative Finance is now regulated by the FCA, and only 13% were aware that some platforms used contingency funds to protect investors from losses. Continue reading…

MiFID II implementation

16 December 2015

The Financial Conduct Authority (FCA) recently published its first consultation paper on the implementation of the new European Markets in Financial Instruments Directive II (MiFID II) in the UK. MiFID was originally introduced in 2007 and the revised regime aims to strengthen investor protection, increase market resilience, reduce systemic risks and increase the overall efficiency and transparency of financial markets. Continue reading…

Progress in demonstrating the suitability of their clients’ portfolios

12 December 2015

Wealth managers and private banks have made progress in demonstrating the suitability of their clients’ portfolios, a thematic review by the Financial Conduct Authority (FCA) has found. However, some firms need to make substantial improvements in client information practices as well as ensuring the portfolios they manage truly reflect the needs and risk appetite of their customers. The FCA will be following up on these issues with these firms. Continue reading…