Category Archives: Financial Services

What Effect are New Regulatory Requirements Having on Risk and Insurance Managers?

overwhelmed risk manager

While I have been a broker for eight years, the 20-plus years I spent as a risk manager at a financial institution still dominate my outlook on issues. I will no longer fight it—resistance is futile! So welcome to my … Continue reading →

The End of Banking: De Novo No More

bank vanishing

In just 11 years, all banks in the U.S. will be gone. At least, that’s what extrapolating the current pace of bank consolidation would suggest. Less than 30 years ago there were over 18,000 banks; the FDIC reports that as … Continue reading →

Banking Brain Drain: Four Unintended Consequences of Post-Crisis Regulation

brain drain

Since the financial crisis, governments have made wide-ranging changes to the way financial institutions are regulated. In particular, regulators have focused on the amount and type of capital that banks and other financial institutions must hold, and set new standards … Continue reading →

Fleeing the Darkness: Will Transparency Change Dark Pools Forever?

dark pool

Private exchanges for trading securities are generally known as dark pools.  Operators and users assert that they bring costs down by providing anonymity when executing large trades.  Those lower prices are, in turn, passed on to average investors. They primarily … Continue reading →

Supreme Court: Presume Nothing, Fiduciaries

market down

The U.S. Supreme Court recently held that fiduciary committees of employee stock ownership plans (ESOPs) are not entitled to a “presumption of prudence” in lawsuits challenging their decision to invest plan assets in company stock. This decision appears to eliminate … Continue reading →

FCA and the Fair Use of Client Dealing Commission – More Than “a Little Local Difficulty”?


The Financial Conduct Authority (FCA) has just published a discussion paper on the use of dealing commissions.  The paper is the result of supervisory activity in the asset management sector, as well as other regulatory engagement with stakeholders. The FCA … Continue reading →

The Next Big Thing in Banking May Not be a Bank


“Chase or Google?” my colleague challenged me, asking which would be more important in ten years’ time. The answer may well be neither. Continue reading →

How to Reduce Risk of Lending to Small and Medium Enterprises

Bank Vault

In recent years large banks have been reluctant to lend to small and medium enterprises (SMEs). Smaller banks, relying on less sophisticated capital models than the bigger banks, are unable to take up the slack.  The consequence has been a … Continue reading →

Financial Insurance for Start-Up Hedge Funds

Financial insurance for hedge funds

This article details the importance of financial insurance, a category of insurance designed to protect a hedge fund from professional and director level liability. Continue reading →

Understanding Start-Up Hedge Fund Insurance

Insurance for hedge funds

Having the right insurance policies in place might not necessarily be top of the to-do list when setting up a hedge fund. But to overlook this key business requirement is ill advised. Today’s hedge fund manager is under a barrage … Continue reading →