jschieffer's blog

Following our Wednesday Webinar entitled:“Non-US Advisers Under the Dodd-Frank Act: Universal Registration is Here," speakers Mark Berman, ceo of CompliGlobe and Nathan Greene, partner at Shearman & Sterling, offer the following responses to questions posed from the audience during this Web-event.

* Please read the disclaimer at the bottom. 

The financial regulatory landscape continues to transform but this week the news was mostly focused on the UK.

President Obama has signed the Dodd-Frank Wall Street Reform and Consumer Protection Act into law this week. 

Below is a selection of articles I’ve collected useful including some straight news articles, analysis and opinion. Don't forget to check out DerivSource's regulation news section for ongoing news in this area. Members are also encouraged to follow DerivSource on Twitter to keep up to date with industry news and hear about our exclusive analysis and opinion articles first.

The Senate has passed the Dodd Frank Wall Street Reform and Consumer Protection Act with a vote of 60 to 39. It is expected that President Obama will sign the legislation next week.

Below is a selection of articles I’ve collected useful including some straight news articles, analysis and opinion.

Connect with us via Twitter to get our Tweets. Registered members are welcome to submit comments or share their favorite articles below.

A Guest Blog by Posted by Jiro Okochi at the Reval's Blog savemyswaps.com

Are you investing in risk technology this year? If so, do you have an integrated or enterprise risk management strategy in place?

There is no doubt that the financial crisis has pushed risk management to the forefront of all agendas as financial institutions look to implement risk programs to better withstand future market turmoil.

One of the top areas both buy-side and sell-side financial institutions are improving this year is the management of counterparty risk and collateral. The financial crisis shed light on the inefficiencies in both procedures and processing systems as firms struggled to manage risk exposures to defaulting (or near defaulting) financial institutions including Lehman Brothers. As a result, many books, Webinars (one we hosted) are popping up to educate those in need of information to support new projects to improve counterparty risk mitigation practices and collateral management operations.

I moderated a Webinar on counterparty risk and collateral management just two years ago and since then not much has changed. In fact, these two operational areas are more in the spotlight now as the credit crisis (the default of Lehman Brothers specifically) shed light on the inefficiencies in current procedures and processes. Budgets vary by firm but financial institutions must fix the cracks in collateral management infrastructure and counterparty risk mitigation practices now painfully visible.

Investment managers & hedge funds have many questions to be answered before they get involved in CDS clearing.

Central clearing of credit default swaps is progressing with full speed ahead with three clearing offerings (ICE, Eurex and CME) live and processing contracts. Despite this momentum, the picture is not complete because the buy side remains reluctant to jump on board the clearing bandwagon.

2010 is the year of unfinished business.

New industry initiatives aiming to address inefficient and faulty areas of the OTC derivatives post-trade processing space have launched while others market changes are in the works. All the while regulators and legislators on both sides of the pond continue to deliberate on reform of the OTC derivatives market. 2010 may seem like it will be more of the same but the introduction of new regulation will undoubtedly revolutionize the industry.