(Trading and risk management teams at global securities firms are facing a perfect storm of rising inflation, the ripple effects of the pandemic, and the Russian invasion of Ukraine. Gil Guillaumey, head of strategy — capital markets at Adenza, recently answered questions from FTF News about these concerns and about the best ways forward amid… Read More >>
JPMorgan Chase & OCC Resolve Risk Control Charges
The Office of the Comptroller of the Currency (OCC), an independent bureau within the United States Department of the Treasury, has hit JPMorgan Chase, with a $250 million fine. The reason for the civil penalty: “The OCC found the bank’s risk management practices were deficient and it lacked a sufficient framework to avoid conflicts of… Read More >>
IBM & TR Offer Regulatory Change Management Solution
IT systems giant IBM and the Regulatory Intelligence group at Thomson Reuters (TR) have joined forces to provide financial services firms with a regulatory change management solution that will help them digitize governance, risk, and compliance (GRC) processes, automating access to more than 900 regulatory bodies and 2,500 collections of regulatory and legislative materials, officials… Read More >>
World Bank Signs Licensing Agreement with SimCorp
World Bank Deployment to Cover Middle and Back Offices SimCorp, which provides investment management products and services to the financial services industry, reports that the World Bank has licensed SimCorp Dimension, the vendor’s investment management system. The agreement was signed in late 2018, per SimCorp. Under the agreement, the World Bank has licensed SimCorp’s “middle… Read More >>
Finpacific Joins Misys Partner Program
Finpacific Treasury Systems, an Australian treasury, risk and cash flow management vendor, has partnered with financial software vendor Misys and joined Misys’ InFusion Partner Program, officials say. Finpacific has more than 10 years of experience working with banks in the Asia Pacific region and has “deep expertise in application development and deployment, managed services, training… Read More >>
Ex-CIBC COO Becomes GRI President & CEO
The Toronto-based Global Risk Institute in Financial Services (GRI) has a new president and CEO Richard Nesbitt as of today, an appointment that follows Dr. Michel Maila’s decision to retire from those positions after three years’ service, officials say. Until September of last year, Nesbitt was chief operating officer at Canadian bank CIBC until he… Read More >>
ISDA Shakes Up Internal Teams
The International Swaps and Derivatives Association (ISDA) has shaken up its public policy and regulatory and legal team line-ups, in order to “reflect the next phase of regulatory reform and to support cross-border harmonization efforts,” according to an ISDA statement. Steven Kennedy has been made ISDA’s global head of public policy, a newly created position… Read More >>
CFTC Wins $1.2B in Restitution for M.F. Global Clients
On Christmas Eve, the CFTC is bringing good tidings to those clients left in the lurch by the bankruptcy of MF Global Holdings Ltd. (MFGH). The regulator via the federal court in New York is ordering MFGH to pay $1.212 billion in restitution for the unlawful use of customer funds and to pay a $100… Read More >>
SunGard Speeds Up Adaptiv Analytics via GPUs
SunGard has upgraded the hardware that underpins its hosted Adaptiv Analytics solution, increasing its computing power roughly five-fold in an effort to bridge the gap between the ever-expanding number of risk calculations required of financial firms and the limited processing power available to complete the complex assessments. The upgrade is powered by parallel computing and… Read More >>
OpenGamma Adds Conde, Beeston to Board of Execs
Risk management software provider OpenGamma has reshuffled its board of executives, with the position of chairman changing hands, and Cristóbal Conde, the former CEO of SunGard, joining the board, according to a company statement. Kirk Wylie, a co-founder of OpenGamma, will step down as chairman, following his decision to take on the role of chief… Read More >>
