Operational Risk News

Latest news articles on the subject of Operational Risk, Sarbanes-Oxley and Basel II. m-Bryonic Solutions Limited provide solutions for managing process efficiency and operational risk.

UK government sets out way forward for Operating and Financial Review - November 26, 2004

The UK Trade and Industry Secretary Patricia Hewitt yesterday announced the way forward for the government's new Operating and Financial Review (OFR), which aims to help strengthen corporate governance in British companies. The announcement follows a period of public consultation on the regulations.
http://continuitycentral.com/news01638.htm

Check Fraud Increases to $5.5 Billion - November 23, 2004

Attempted check fraud at the nation's banks rose to $5.5 billion in 2003, according to the latest American Bankers Association Deposit Account Fraud Survey Report.
http://www.garp.com/risknews/newsfeed.asp?Category=19&MyFile=2004-11-23-9767.html

Looking ahead - the real threats to business - November 23, 2004

Control Risks Group, the international business risk consultancy, has published RiskMap 2005, its annual study and forecast of political and security risks across the globe. Although the headlines in 2005 will continue to be dominated by the ongoing 'war on terror', the report argues that this may only serve to distract business from the more direct and critical challenges they will face around the world.
http://continuitycentral.com/news01627.htm

SEC Finalizes Rules on Hedge Fund Registration - November 22, 2004

The SEC voted on October 26th to finalize rules proposed earlier this year to require hedge funds to register as investment advisors and establish compliance policies and procedures. According to the Commission, the rule will enable more thorough collection of information on hedge fund advisors and examination of their operations in order to root out compliance problems earlier and deter fraudulent activities. Hedge funds will have until February 2006 to comply with the rule.
http://www.riskcenter.com/story.php?id=9761

Basel II, Unresolved Issues for Counterparty Credit Risk - November 19, 2004

The race is on to find a solution to outstanding issues such as counterparty risk, double default and the treatment of illiquid assets on trading books before Basel II is in regulation.
http://www.garp.com/risknews/newsfeed.asp?Category=19&MyFile=2004-11-19-9756.html

Does Sarbanes-Oxley Hurt Shareholders and Hide Poor Management - November 19, 2004

When a company goes dark it can no longer be listed on a big exchange like the NYSE but can continue to trade on the Pink Sheets, an electronic quotation medium for over-the-counter stocks. Stocks that list here do not have to meet minimum requirements or file with the SEC.
http://www.garp.com/risknews/newsfeed.asp?Category=19&MyFile=2004-11-19-9757.html

US SEC Postpones Acceleration Filers to Allow Additional Time for Sarbox Mandates - November 18, 2004

The primary purpose of the postponement is to allow additional time and opportunity for accelerated filers and their auditors to focus their efforts on complying with new requirements regarding internal control over financial reporting that were mandated by Section 404 of the Sarbanes-Oxley Act of 2002.
http://www.garp.com/risknews/newsfeed.asp?Category=20&MyFile=2004-11-18-9748.html

Risk management: a case for ERM in the Middle East - November 17, 2004

DUBAI - Experience from around the world proves that good risk management protects companies from potential adverse impacts, also confers competitive advantage enabling them to be more entrepreneurial, leading to higher profits.
http://www.menafn.com/qn_news_story_s.asp?StoryId=69811

Financial Firms Must Prove Sarbanes-Oxley Compliance - November 16, 2004

Firms with fiscal years ending after Nov. 15th, including financial giants such as Morgan Stanley, Goldman Sachs Bear Stearns and Lehman Brothers are now required to prove in their annual reports that they've tested and documented their sales, assets and liabilities in a way that complies with the Sarbanes-Oxley law of 2002.
http://www.garp.com/risknews/newsfeed.asp?Category=19&MyFile=2004-11-16-9730.html

Guidance for Money Laundering is Enforced in England - November 16, 2004

The Institute of Chartered Accountants in England and Wales is committed to helping accountants and businesses with the needed systems for reporting incidences of money laundering.
http://www.garp.com/risknews/newsfeed.asp?Category=19&MyFile=2004-11-16-9732.html