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In the News

FTfm, 7th August 2011: Fears rise that financial reform is harming US business

Wolters Kluwer says there is concern it is moving too slowly. “Municipal bonds are a ticking time bomb, and all money market funds contain these bonds,” says Andrew Liegel. A blow up in the $2,700bn municipal bond market could deal the US as damaging a blow as a default on the national debt.”

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A-Team Group, 3rd August 2011: George Crooks of Wolters Kluwer Financial Services Comments on the Further Delay of Solvency II to 2014

“Concern over the risks associated with an extended and asymmetrical transition to Solvency II from the start of 2013 has left the European Parliament with little choice but to postpone its introduction to 2014, and this decision would have been met with differing opinion within the industry. Firms that have already taken significant steps towards meeting the previous deadlines could have read the news with despondency due to the money currently being spent on preparing for January 2013. Those firms yet to have measures in place are likely to welcome the news, as they now have more time to prepare. But can any of these firms be certain that there will be no further complications?” said George Crooks of Wolters Kluwer Financial Services.

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Strategic Risk, 2nd August 2011: Regulator’s fines for 2011 near £30m

Wolters Kluwer Manager for Regulatory Content, UK, Mary Stevens, said: “Although this is not an exact science it does not seem unreasonable to assume that last year’s figure of just shy of £90 million will remain in the record books for time in memorial. Should this trend continue for the remainder of 2011 then it is likely that we would see the overall fines total for this year reaching approximately £45 million making it the second largest annual figure in the FSA’s history of regulation.”

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gtnews, 2nd August 2011: EBA's 2011 Stress Tests: The results are in

In this instalment of his gtnews regulation blog, contributing editor and head of regulatory policy at Wolters Kluwer Financial Services' FRSGlobal, Selwyn Blair-Ford, analyses the results of the European Banking Authority's (EBA) latest round of stress tests and how they compare to last year's contentious results.

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Operational Risk and Regulation, 1st August 2011: Curing the culture of fraud

In the absence of energetic oversight and advocacy, basic controls can stop being effective if too much time passes without them being monitored or challenged. “Control de-implementation is a real risk,” says Mark Coronna, executive vice-president of securities, compliance and insurance at Wolters Kluwer in London. “Over a period of years controls can start to de-implement because of benign neglect or, worse, intent.”

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