Category Archives: Financial Services

Securities Class Actions Focus on Accounting

accounting lawsuits

Per Cornerstone Research, filings of securities class actions with accounting-related allegations increased 47% in 2014, and accounting case filings involving restatements of financial statements reached their highest level in the last seven years. Most people like numbers and statistics like … Continue reading →

Millennials & Insurance – The Final Financial Frontier

millennial guy in car

My colleague and I wondered if Millennials would make Google the next big thing in banking. Considering how they are changing the world of insurance, particularly personal lines, we now ask….Is Google the next big thing in insurance too? As … Continue reading →

Leading Persons in the EU Financial Sector: Beware of New Personal Sanctions

Euro market decline

What changes are moving into national legislations across the EU to come to terms with corporate governance weaknesses? Continue reading →

Chief Data Officers – The Case for the Defence

data storage

A large number of financial institutions (FIs) have appointed chief data officers (CDOs) over the past couple of years. I know a few of them and while they come from a wide variety of backgrounds—some technical, some business, some ‘data … Continue reading →

TRIA, Panic and the Illusion of Business as Usual – Reflections for the Insurance Industry

MR--Matt-K-on-TRIA-and-future-v2

Looking back on the surprise of TRIA’s temporary non-renewal offers lessons for an industry that may not fully acknowledge the complexity of its relationship with government and regulators and may not be ready for fundamental challenges that lie ahead. Continue reading →

Negative Interest Rates: Turning the Banking System Upside Down?

banking upside down

Did you ever imagine having to pay money to keep your savings in a bank account? No? Well, in these times of extremely low interest rates, a new reality is rapidly approaching. As some of the European central banks have … Continue reading →

Cap on Card Payment Fees: Just the Tip of the Iceberg for EU Banks

iceberg

On January 27th, the European Parliament’s Economic and Monetary Affairs Committee voted to support the draft rules prepared by the Council of Ministers during 2014 on the capping of the fees charged by banks in the EU to retailers for … Continue reading →

Felony Banking in the First Degree

prison bar shadow

The last time a major U.S. bank plead guilty to criminal charges, the movie Beetlejuice was in theaters. The year was 1988 and the once high-flying firm of Drexel Burnham Lambert, as a corporation, plead guilty to six counts of … Continue reading →

Regulators Raise the Bar for Cyber Risk: Banks, Be Ready

money-technology

In the last six months, just about every financial institution regulatory body in the US has augmented or is reviewing its process for providing oversight of cyber security risks.   In light of the recent cyber-attacks on banks, health insurers, retailers … Continue reading →

Conduct Risk Investigated: 3 Things Bank Risk Managers Need to Know

bad conduct

The risk of staff acting unprofessionally, unethically or illegally – commonly known today as conduct risk – has recently emerged at the top of the agenda of bank supervisors and bank boards alike. Although few debate the importance of conduct … Continue reading →