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Risk Management Presentation November 26 2012

Risk Management Presentation November 26 2012

Ratings: (0)|Views: 4|Likes:
Published by George Lekatis
International Association of Risk and Compliance Professionals (IARCP)
http://www.risk-compliance-association.com

Every Monday
Top 10 risk and compliance management related news stories and world events
Do you want to receive (at not cost) every Monday the Top 10 risk and compliance management related news stories and world events that (for better or for worse) shaped the week's agenda, and what is next?
You can register at:
http://www.risk-compliance-association.com/Top_10_Risk_Compliance_Management_Stories_Events.html

Receive the New Member Orientation Newsletters
You will have the opportunity to learn (at not cost) what members registered before you have already learned. Understand better risk and compliance management, projects, careers, challenges and opportunities.
You can register at:
http://www.risk-compliance-association.com/New_Member_Orientation_Newsletters.html
International Association of Risk and Compliance Professionals (IARCP)
http://www.risk-compliance-association.com

Every Monday
Top 10 risk and compliance management related news stories and world events
Do you want to receive (at not cost) every Monday the Top 10 risk and compliance management related news stories and world events that (for better or for worse) shaped the week's agenda, and what is next?
You can register at:
http://www.risk-compliance-association.com/Top_10_Risk_Compliance_Management_Stories_Events.html

Receive the New Member Orientation Newsletters
You will have the opportunity to learn (at not cost) what members registered before you have already learned. Understand better risk and compliance management, projects, careers, challenges and opportunities.
You can register at:
http://www.risk-compliance-association.com/New_Member_Orientation_Newsletters.html

More info:

Categories:Types, Business/Law
Published by: George Lekatis on Jun 14, 2013
Copyright:Attribution Non-commercial

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International Association of Risk and Compliance
Professionals (IARCP)
 
1200 G Street NW Suite 800 Washington, DC 20005-6705 USA Tel: 202-449-9750 www.risk-compliance-association.com
 
Top 10 risk and compliance management related news storiesand world events that (for better or for worse) shaped the week's agenda, and what is next
 
Dear Member,
 
Finance is an industry that sells nothingphysical, nothing that you can kick: it sellspromises: promises to pay, promises you areasking your customers to trust.
 
But theperceptionin the minds of many members of the public
 –
 including many of your potential and current clients
 –
is that the financialindustry lacks integrity, and this view isnot aided by some of the moretorrid storiesfrom this summer 
 –
headlines about rate-rigging, Mexicandrug lords, and Iranian weapons proliferators will not have helped rebuildtrust in the financial sector collectively.
 
Who said that?
 
Tracey McDermott, director of the Enforcement and Financial CrimeDivision (FSA UK)
 
Read more atNumber 7of our list.Also:
 
On August 21, 2012, a whistleblower who had helped the Commissionstop an ongoingmulti-million dollar fraud received an award of 30percent-- the maximum percentage payout allowed by law -- of theamount collected in the Commission
s enforcement action against theperpetrators of the scheme.
 
International Association of Risk and Compliance Professionals (IARCP)www.risk-compliance-association.com
 
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The award recipient in this matter submitted a tip concerning the fraudand then provided documents and other significant information thatallowed the Commission
s investigation to move at an accelerated paceandultimately led to the filing of an emergency action in federal court toprevent the defendants from ensnaring additional victims and further dissipating investor funds.
 
The whistleblowe
s assistance led to the court ordering more than $1million in sanctions, of which approximately $150,000 had been collectedby the end of the fiscal year.
 
In accordance with the 30 percent award determination, on August 21,2012, the whistleblower was paid nearly $50,000.
 
Who said that?
 
We can read it at the Annual Report on the Dodd-Frank Whistleblower Program, from the staff of the U.S. Securities and Exchange Commission
 
Read more atNumber 1.
 
Also, atNumber 8you can read a really interesting speech fromJaseem Ahmed, Secretary General, Islamic Financial Services Board (IFSB).
 
AlthoughI confess I did not fully understand his first sentence
Assalamu
‘a
laikum warahmatullahi wabarakatuh and a very goodmorning to all of you
‖,
 I found the content very interesting.
 
For example:
Islamic finance offers a major opportunity for diversifyingthe investor base, and raising investor interest in Africa.
 
Also,
following the pioneering efforts of countries such asSudan,Bahrain and Malaysia, governments are integrating Islamic financeinstruments into their public finance and expenditureframeworksthrough sovereign Su
k
issuance programmes
 
Welcome to the Top 10 list.
 
International Association of Risk and Compliance Professionals (IARCP)www.risk-compliance-association.com
 
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U.S. Securities and Exchange Commission
Annual Report on the Dodd-FrankWhistleblower Program, Fiscal Year 2012
 
This is a Report of the Staff of the U.S. Securities
 
and Exchange Commission. The Commission has expressed no viewregarding the analysis, findings, or conclusions contained herein.
 
Current focus of the Basel Committee:Raising the bar 
 
Remarks by Mr Stefan Ingves,Governor of Sveriges Riksbank and Chairman of the BaselCommittee on Banking Supervision
 
(At the 7th High-Level Meeting jointly organised by the Association oSupervisors of Banks of the Americas, the Basel Committee on BankingSupervision and the Financial Stability Institute, Panama City, Panama)
 
Challenges in housing and mortgage markets
 
Speech by Mr Ben S Bernanke,Chairman of the Boardof Governors of the Federal Reserve System, at theOperation HOPE Global Financial Dignity Summit,Atlanta, Georgia.
 
International Association of Risk and Compliance Professionals (IARCP)www.risk-compliance-association.com

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