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London Whale Didn't Cause Lehman Bankruptcy, JPMorgan Says
The former JPMorgan Chase trader known as the "London Whale" was not responsible for Lehman Brothers' bankruptcy and should not be dragged into an $8.6 billion lawsuit.
Risk Vs Innovation: 5 Steps To Finding the Right Balance
With low budgets and low tolerance for risk, firms that want to forge ahead need to strike the right balance between innovation and risk.
Finally the Right Time for Swap Futures
While swap futures in the past have not gained traction, the market environment today is ripe, as there is impetus for firms to adopt risk-equivalent, low-cost alternatives to cleared swaps.
Goldman Sachs, JPMorgan Slash Workforce
The Yin and Yang of Wall Street, Jamie Dimon and Lloyd Blankfein, will cut their workforces by 20,000 and 4,000 jobs respectively.
Ex-Goldman Sachs Prop Traders Fail At Hedge Funds
Benros Capital joins the list of hedge funds run by former prop traders at Goldman Sachs to bite the dust. Wasn't this the reason the banks paid those bonuses during the bailouts?
Wealth Managers' Mobile Disadvantage
Sluggish adoption of the technology keeps financial advisers a step behind mobile-savvy customers.
Rebuilding Trust in Our Markets in the Year Ahead
While regulators focus their efforts on automated or manual exchange-level risk management, firms should ensure that they have proper processes in place to manage risk from their own perspective in order to avoid the pain of repeating notable — and possibly avoidable — mistakes.
Some Questions for the SEC on the New MIDAS Surveillance Plans
Although the SEC's plans to monitor market activity through MIDAS are important, is the commission still over matched against the HFT community?
Oracle Financial Services Introduces New Enterprise Model Risk Application
New product for model risk helps financial institutions meet regulatory demands.
Finding Alpha in the New Normal
Adapting to the new normal of the equity markets, diversifying into other asset classes, and confidently managing the risks for healthy returns can be achieved by understanding, managing and analyzing data.
Corzine Faces Lifetime Trading Ban
The former Master of the Universe might be banned from futures trading in the wake of the (suspicious) MF Global collapse.
SEC Weighs Fixes after Trading Technology Debacles
Exchanges and other trading platforms would have to perform tests to prevent software errors from unleashing havoc on the market under proposed rules being crafted by regulators.
Battling Ponzi Schemes and Snake Oil Salesmen
What can the CFTC do to prevent future cases of blatant fraud, as well as the losses, similar to cases like MF Global and Peregrine Financial Group? Andrew Waxman offers some risk management techniques regulators should consider.
The Start of Another Financial Crisis
It's a deja-vu: the stability of the global markets could soon be under threat due to a looming crisis in the derivatives industry.
Justice Department Works On New Model To Prosecute Banks
Banks have been getting off too easily. Now, the government is pushing to make them accountable for any wrongdoing.
Hedge Funds Run By Women Continue to Profit
Alternative investment funds that have a woman at the helm are happy to leave the reckless risk to their cowboy counterparts, a new study finds.
Best Reactions To Obama's Cybersecurity Executive Order
Is President Obama's executive order on cybersecurity causing hackers to shudder and financial institutions to breathe a sigh of relief? Here are some of the top reactions on the web to this controversial bill.
As Profits Plummet 82 Percent Last Year, Getco Still Wants Knight Capital
The high-frequency trading firm is bullish on 2013 as it pursues Knight Capital Trading and unveils plans for a new "mid-frequency" market making system.
Morgan Stanley Lifts Risk-Weighted Asset Reduction Target
Morgan Stanley expanded its
risk-weighted asset reduction target, a move that will help the
Wall Street bank's capital levels under new rules and
potentially boost shareholder returns.
5 Risk Indicators that Led to the Mortgage Mess
A civil lawsuit by the Justice Department against Standard & Poor's shines a light on faulty ratings. But savvy traders at Goldman and Paulson & Co. saw early warning signs of the mortgage crisis in 2006 and 2007.
McGraw-Hill Says Doesn't Think Government Can Prove S&P Case
McGraw-Hill Cos Inc, which is
being sued by the U.S. government for bond ratings issued by its
Standard & Poor's unit, reported a surge in quarterly adjusted
profit and said it does not believe the government can prove its
case.
Canada Wealth Managers See Shift to Equities in 2013
Buoyed by rising global stock markets, Canadian asset managers
are increasingly certain that 2013 will be the year that
investors who were burned by the financial crisis make a return
to equity-linked products.
Currency Sparks Rekindling Volatility
Sudden swings in currency rates
are refiring measures of future global markets volatility,
pushing these risk gauges back towards what some will see as
more realistic and even healthier levels.
Financial Firms Overhaul Data Management Strategies
As capital markets organizations focus on ways to reduce risk, data management is receiving a top-to-bottom makeover.
Mexico Revamps Infrastructure to Compete on the Global Stage
Latin America as a whole is demanding a lot of attention at the moment, but, argues Alice Botis, Head of Latin American Business Development at Fidessa, it’s critical to recognize the individual nuances of each country. Here, she throws the spotlight on Mexico.
Price Manipulation Risk – The Big Unknown
Despite efforts to strengthen controls, the Libor scandal and recent valuation problems with JP Morgan's "London Whale" trade point out that banks still have exposure to price manipulation risk.
MF Global Customers to Get Most of Their Money Back - Freeh
Former customers of Jon
Corzine's collapsed brokerage MF Global would recover most, and
probably all, of their money under the latest projections by the
trustee liquidating its bankrupt parent company.
New Measures to Lift Veil on Banks' Capital Ratios
The game may soon be up for banks
that have made themselves look healthier by understating how
risky their businesses are, which should help pension funds,
savers and companies to decide which institutions to invest in.
MF Global Customers to Get Most of their Money Back - Freeh
Former customers of Jon
Corzine's collapsed brokerage MF Global would recover most, and
probably all, of their money under the latest projections by the
trustee liquidating its bankrupt parent company.
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