Risk managers should take a more proactive approach to understanding the potential for conflicts of interest in the business models adopted by their brokers, Airmic has urged. In a report to be published this month, the association warns that the increasing scale and complexity of broker market remuneration agreements has led to rising concern among its membership.
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This report presents the results of the Basel Committee’s latest Basel III monitoring exercise based on data as of 30 June 2016. The Committee established a rigorous reporting process to regularly review the implications of the Basel III standards for banks, and it has published the results of previous exercises since 2012. Data have been provided for a total of 210 banks, comprising 100 large internationally active banks. These “Group 1 banks” are defined as internationally active banks that have Tier 1 capital of more than €3 billion, and include all 30 banks that have been designated as global systemically important banks (G-SIBs). The Basel Committee’s sample also includes 110 “Group 2 banks” (ie banks that have Tier 1 capital of less than €3 billion or are not internationally active).

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On 16-17 February 2017, the Central Bank of Lesotho hosted the 11th meeting of the Financial Stability Board (FSB) Regional Consultative Group (RCG) for Sub-Saharan Africa in Maseru, Lesotho. At the meeting, members of the FSB RCG were provided with an update on the FSB’s workplan and priorities, to pursue the full, timely and consistent implementation of post-crisis financial reforms, evaluate whether reforms have had their intended effects, and address new vulnerabilities in the financial system.  Continue reading…

by Mark Dunn

Transparency International has released its 2016 Corruption Perceptions Index (CPI). The CPI ranks 176 countries and territories on how corrupt their public sector is perceived to be. The index aggregates a number of different sources, including the views of business people and country experts. Continue reading…

The Financial Conduct Authority (FCA) recently published a Discussion Paper (‘Paper’), which seeks stakeholder views on the practice of investing in illiquid assets through open-ended funds and the challenges that can pose to managers and investors. Illiquid assets in the context of this Paper may include land and buildings, infrastructure and financial assets such as unlisted securities.
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by Georgina Oakes

The right corporate culture not only creates a better risk environment, it has clear financial benefits. Georgina Oakes, research and development manager at Airmic, explains that the risk manager should be at the heart of change. Corporate culture may be a hard-to-define concept but its tangible benefits are increasingly being recognised by business leaders, regulators and investors. An EY survey of FTSE 350 board directors found that 92% of respondents believe that investing in culture has improved their financial performance.
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Michel Klompmaker

The Italian Objectway, with offices in the UK, Belgium and South Africa recently held its international customer conference in Amsterdam, where your platform was also invited. The event began with an exclusive visit to the famous Van Gogh Museum, where Luigi Marciano, President & CEO of Objectway, proudly presented the new company brand on one of the walls. Continue reading…

The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) recently published final changes in a Policy Statement (PS) aimed at strengthening the transparency and effectiveness of their enforcement decision-making processes.The consultation and policy recommendations covered the full lifecycle of an investigation. Continue reading…

by Jasper De fauw

On 31 January 2017, the Belgian Competition Authority (“BCA”) published a practical guide for buyers of public authorities on cartel behavior of bidders in public procurement (so-called “bid rigging” or “collusive tendering” practices). The BCA’s accompanying press release states that fighting bid rigging in public procurement is one of the main priorities in its enforcement policy. The guide provides examples of warning signs which might indicate potential collusive behavior of public procurement bidders. It also describes which market conditions might possibly facilitate bid rigging and gives practical tips and tricks to buyers on how to avoid potential collusion. Continue reading…

The Financial Conduct Authority (FCA) recently fined Deutsche Bank AG (Deutsche Bank) £163,076,224 for failing to maintain an adequate anti-money laundering (AML) control framework during the period between 1 January 2012 and 31 December 2015. This is the largest financial penalty for AML controls failings ever imposed by the FCA, or its predecessor the Financial Services Authority (FSA).
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