The FSA’s new discussion paper, Cross Sector Risk Transfers, on the use of Credit Derivatives to transfer risks between institutions, fails to consider the operational and systems risks that organisations trading in Credit Derivatives are running, according to TCA Consulting, an IT consultancy to the financial services sector. Whilst TCA Consulting broadly supports the conclusions reached by the FSA, it argues that they have so far glossed over the extreme levels of operational risk that many institutions may be running. TCA Consulting argues that whilst the FSA’s report takes great pains to emphasis that ‘inadequate systems, controls and a failure of senior management to appreciate the risks’ is of concern, it fails to elaborate further, even though these represent a potentially larger cause of loss than legal and regulatory issues.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.