The D-Day for the Foreign Account Tax Compliance or FATCA is looming closer. From 1st of July 2014, FATCA requires Foreign Financial institutions (FFIs) outside the United States (US) to pass information about their US customers to the US Tax Authorities, the Inland Revenue Services (IRS). A 30% with holding tax is imposed on …
The recent spate of scandals affecting the banks yet again calls into question the effectiveness of risk functions. In recent years, a whole new risk infrastructure has been established to demonstrate that firms have a better handle on risk. Why so? – “because the regulator says so” is the meek response. The sceptics (often in …
Why Bank CEO’ss Should be Reviewing Their Risk Functions Read More »
In recent times we have seen high-profile IT outages involving RBS, Blackberry and O2 to name but three. These outages have undoubtedly resulted in a negative impact to each company’s reputation and direct financial loss due to compensation payments. If large organisations such as these with large, professional, well funded IT departments can get things …
The need for insurers to improve the management of credit exposures has come into sharper focus recently. This has been under scrutiny from the FSA notably in their discussion paper in April 2003 “Review of UK insurers’ risk management practices” and the subsequent letter to the CEO to Life Insurers and Friendly Societies. To recall …
Today’s economic climate is proving challenging to successfully manage risk and volatility while also striving for sustainable and predictable earnings for the organisations and its shareholders. In fact, articulating risk appetite and building a robust enterprise risk management framework still remains challenging for most firms especially in the financial services sector. This financial crisis has …
Risk Appetite – Overcoming the Challenges of Developing & Embedding It Read More »
Basel III comprehensive reform package developed by the Bank of International Settlement’s (BIS) Basel Committee aims to prevent the financial crisis witnessed in 2008, which required many central banks to bail out large banks. The Basel III standards aims to improve banking sector’s ability to absorb shocks arising from financial and economic stresses, improve risk …
BASEL III STANDARDS RECEIVE MIXED REACTION – WHAT ARE THE IMPLICATIONS? Read More »
Corporate Failures: Executives and Their Advisors Are Held Personally Responsible and Face Fines as well as Prosecution Regulators have to become harsher in light of the financial crisis – they are inflicting some very serious penalties for wrong doings – could you be the next one considered not “fit or proper?” In an attempt to …
FSA Will Hold Eexecutives Personally Responsible for Poor Risk Management & Controls Read More »
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