Commentary from SunGard experts on news and events affecting the financial services industry.
Contributor: SunGard Viewpoint
SunGard Viewpoint: Monday's last minute deal to rescue Cyprus has been global headline news. With your expertise in risk management what are your thoughts on the bail-out? Laurence Wormald: From my point of view, the most interesting angle here is “what are the new risks?” associated with the rigorous application of “bail-in” rather than “bail-out” of troubled banks.... read more
Commentary from SunGard experts on news and events affecting the financial services industry.
Contributor: SunGard Viewpoint
Q: Recent news of market abuse in the UK gas markets has brought energy industry regulations – and particularly REMIT – into the spotlight. Will REMIT really help to stamp abuse out? A: Like any regulation, there's never a guarantee to stamp abuse out. But what we can do is learn from the experience of the financial markets where the Market Abuse Directive that was implemented several years ago took time to bed in. REMIT prohibits certain activities that were not explicitly prohibited beforehand, and the regulator has more power to intervene in such a case.... read more
Commentary from SunGard experts on news and events affecting the financial services industry.
Contributor: SunGard Viewpoint
Q: Today, we’ll talk about SEPA, the payments integration effort of the European Union for bank transfers. Now that there is an end date in place for SEPA compliance, Andrew, are you beginning to see any movement in the market to prepare for this?... read more
Contributor: David Lewis
The common English saying, “possession is 9/10ths of the law” can often be applied when facing small, everyday challenges such as, “Who really booked this meeting room for 3:00 p.m.?” Those sitting in the room tend to win the argument. The European Securities and Markets Authority has been looking hard at the concept of ownership in developing its new regulations on short selling, known as SSR.... read more
Contributor: Anshuman Anand
Reporting for insurance companies -- IRDA has issued reporting guidelines in the past and has now established a committee to examine the International Financial Reporting Standards (IFRS) proposal issued by the International Accounting Standards Board (IASB) on July 30, 2010, for a comprehensive standard to address recognition, measurement, presentation and disclosure for insurance contracts. The committee will evaluate the various requirements and accounting standards, identify gaps and suggest various measures so that the insurance industry can move towards IFRS compliance by 2012.[1] This is a significant move at a time when the insurance world in general is looking for greater consistency in reporting standards.... read more
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