Risk Audit | News

Another Rogue Trader?
Date: 22 February 2012

The Financial Tines this morning reports that Threadneedle may have suffered a near miss.

A junior trader was dismissed last August after internal controls detected an attempted fraud ti the tune of $150 million.

The matter was reported to the authorities and that would appear to be the end of the matter.

Readers may be interested in the following two courses:-

Fraud Prevention and Detection: Taking a Risk Based Approach on the 12th March.
Asset Management - The Control Challenge on the 16th March.

BNP Prunes Balance Sheet
Date: 22 February 2012

BNP Paribas has continued with its efforts to reduce its balance sheet as it strives to meet regulatory capital ratios.

It has sold its North American energy business to Wells Fargo.

The deal includes $ 9.5 billion in loans and 150 customers 90 per cent of whom are in the US. Thirty six employees will transfer.

The deal will reduce the French banks' capital requirements by five basis points.

New Securitisation Platform
Date: 22 February 2012

The Federal Housing Finance Agency is proposing to establish a single platform for managing securitisation activity.

The proposal would see Fannie Mae's and Freddie Mac's mortgages tracked via a single platform encompassing the $ 8,500 billion market in the US.