Corporate governance
Mixed reactions to PRA consultation on board duties
The PRA has published a consultation paper identifying the key responsibilities for boards. But the way in which the supervisor will audit firms on the expectations – including the alignment of risk management efforts to business strategy – remains…
Lyxor: index funds may have weakened corporate governance
Hedge fund activism is seeing an uptick, matched by strong returns, but does the strategy always extract long-term value for shareholders?
Internal audit grappling with greater role in bank culture
Internal auditors need the support of bank boards and new skills to help drive cultural change in the industry, according to the chief of the profession's association in the UK
Actively managing risk culture in energy firms: part one
Risk culture lies at the root of many of the most publicised energy risk management failures. In the first instalment of a two-part series, Carlos Blanco, Jean Hinrichs and Robert Mark explore how energy firms can define, assess, benchmark and actively…
Cayman addresses Weavering case governance deficiencies
A new Cayman law will require independent directors, a licensing regime and a database of registered directors, as well as regular reporting from managers and service providers
High governance funds find success in low governance stocks
Assumption that hedge fund managers outperform by investing in firms with similar corporate governance characteristics to their own is inverted. High governance funds are more successful in selecting low governance stocks
Hedge fund directors lack credibility, says survey
Hedge fund directors have come in for criticism from investors and operational due diligence officials for a lack of scrutiny of the funds they represent. Many say directorships should be capped at 15
The 10 biggest energy risk management disasters of the past 20 years
The history of energy trading is littered with losses, bankruptcies and other misfortunes that now serve as cautionary tales. Alexander Osipovich looks back at the biggest energy risk management disasters of the past two decades and how they reshaped the…
Top 10 operational risks for 2014
Internal failures will prove as dangerous as external threats for the financial industry in 2014
BSI standard promises protection against bribery liability
New UK national standard will serve as a defence against charges of inadequate anti-bribery precautions
Regulatory compliance and independent governance top investor ODD agenda
Hedge fund investors are putting more emphasis on regulatory compliance and independent governance structures as part of their pre-investment and on-going operational due diligence says Deutsche survey
Cayman corporate governance reforms face legal challenge
Efforts to enhance the corporate governance framework for hedge funds in the Cayman Islands have run into opposition from local fund directors, who take issue with the regulator’s plans to create a public directors’ database
TNK-BP saga raises questions about BP's handling of political risk
Following a series of bitter spats with its Russian partners, oil major BP exited its Moscow-based joint venture, TNK-BP, in March. Market participants say the oil major’s experience holds lessons for other firms attempting to grapple with political risk…
Activist hedge funds significantly improve company performance
Hedge fund activists achieve substantial improvements in the performance and governance of target companies. Institutional sell-off allows hedge funds to acquire shares with limited price impact.
GO European Focus Fund: Governance for Owners
Although activist hedge funds tend to have a bad press, Governance for Owners pursues a strategy that aims for long-term involvement, adding significant value to companies when they exit the holding
Cayman moves to tighten hedge fund corporate governance
The Cayman Islands Monetary Authority has begun a consultation on corporate governance of regulated hedge funds. The move should bring the financial centre closer in line with other jurisdictions.
Lords take Vickers to task over robustness of plans
Vickers faced fierce questioning on Independent Commission on Banking’s final report and recommendations; incentive for banks to cheat the system discussed
EBA to publish governance and op risk guidelines in September and October
EBA op risk specialist Bernd Rummel says the new European body has a busy schedule of work to implement CRD IV
Regulators blamed for strategic risk failings, says Risk.net poll
Poll respondents might be pointing the finger at supervisors but risk experts say corporate management itself is at fault
IRM tackles thorny issue of risk appetite in new consultation paper
IRM issues guidance for boards of directors of listed companies on how to set risk appetite and tolerance
Irish regulator lacked 'capacity and will' pre-crisis admits Elderfield
Ireland's chief regulator has provided more detail on the recent stress tests carried out by the central bank of Ireland and plans to increase the powers of the body
S&P launches social responsibility index for Middle East and North Africa
Standard and Poor's has launched an ESG (environmental, social and governance) index tracking the Pan Arab region, in conjunction with Hawkamah, the Institute for Corporate Governance for the Mena region.
Goldman Sachs airs risk laundry, publishes report on operations review
US investment bank publishes results of operations review, and planned changes to business practices
BNY Mellon expects strong demand for Asian hedge funds in 2011
Improved corporate governance in Asia could lead to greater institutional demand for the region's hedge funds