MetLife, one of the 10 largest life insurance companies in the world, has signed an agreement with Kamakura to extend its enterprise wide Kamakura Risk Manager (KRM) software implementation to include calculation and reporting of Basel ll capital requirements. MetLife,
Alliance & Leicester First UK Bank To Obtain Unconditional Approval From FSA To Operate Under Basel II
Alliance & Leicester plc has become the first UK bank to obtain unconditional approval from the FSA to operate under the new Basel II regime. A key component of its internal ratings based approach is the use of a FACT
Headstrong, a global consultancy, announced that it has signed a partnership agreement with Aleri Inc., developer of high performance event stream processing software, to co develop MiFID compliant applications for the European capital markets. The European Commission has put in
The Futures and Options Association (FOA) believes that the Capital Requirements Directive (CRD), designed for deposit taking and investment businesses, should not be imposed on commodity market participants unamended. The FOA's position is the result of consultation with its members
Bankdata, outsourced services supplier to the Danish Banking Industry, is partnering with Quadrant Risk Management (International) to provide Basel II compliant solutions to their customers. Bankdata is enhancing Quadrant's operational banking solutions to comply with the Basel II regulatory framework.
SunGard has launched the MiFID Hub application to help firms meet the increased recordkeeping requirements imposed by MiFID. The MiFID Hub, developed by SunGard's EXP business unit, incorporates ideas and feedback from more than 70 financial services institutions. MiFID requires
Businesses in the UK's financial services sector are moving away from a compliance led approach toward operational risk, adopting instead more focused risk management and business process performance based practices, according to Marsh, a risk management and insurance services firm.
Raiffeisen Zentralbank sterreich (RZB) has adopted financial crime and compliance software from Norkom Technologies to support its enterprise wide compliance strategy. Starting June this year, Norkom's software will be rolled out across the group's 17 banking operations to conduct real
Waters Magazine is reporting that 60 percent of European financial institutions won't be ready for the 1 November 2007 MiFID deadline, according to a survey. The deadline could see many employees working through August, the traditional holiday period for most.
LECG LLC, a subsidiary of the strategic advisory firm LECG Corporation, has signed a definitive agreement to acquire the Secura Group LLC, a privately held consulting firm focused on financial services and regulatory compliance. "Secura has a long history of