Internal Risk Management

Internal control systems are central to the identification and evaluation of risk. Following the collapse of Enron, it became a legislative  requirement for auditors to provide assurance that publicly listed corporations in the United States had effective internal control systems (Sarbanes-Oxley, s. 404). The limitations of risk managmeent became a critical issue in legislative hearings in both the United States and elsewhere in the aftermath of the Global Financial Crisis. This series explores the strucutral reasons for the flaws and regulatory and corporate responses. 

SEC Releases Study on Investor Access to Registration Information About Investment Advisers and Broker-Dealers

As required by section 919B of The Dodd-Frank Wall Street Reform and Consumer Protection Act 2010, the Securities and Exchange Commission has published a staff study recommending steps to help investors better access information about investment professionals.
Originally Published: 
Wednesday, January 26, 2011

Government Accountability Office Audits Federal Deposit Insurance Corporation Fund’s 2009 and 2010 Financial Statements

Section 17 of the Federal Deposit Insurance Act, as amended, requires the Government Accountability Office to annually audit the financial statements of the Deposit Insurance Fund and the Federal Savings and Loan Insurance Corporation Resolution Fund.
Originally Published: 
Monday, March 21, 2011

Federal Reserve Board Reports on 2009 Interchange Revenue, Covered Issuer Cost and Covered Issuer and Merchant Fraud Loss Related to Debit Card Transactions

In accordance with section 920 of the Electronic Fund Transfer Act, as added by Section 1075 of The Dodd- Frank Wall Street Reform and Consumer Protection Act 2010 requires the Federal Reserve Board conduct a survey on interchange revenue, covered issuer cost and covered issuer and merchant fraud lo
Originally Published: 
Wednesday, June 29, 2011

Consumer Financial Protection Bureau Reports on the Impact of Differences Between Consumer and Creditor Purchased Credit Scores

Section 1078 of The Dodd-Frank Wall Street Reform and Consumer Protection Act 2010 requires the Consumer Financial Protection Bureau (“CFPB”) to conduct a study on the nature, range, and size of variations between the credit scores sold to creditors and those sold to consumers by consumer reporting
Originally Published: 
Tuesday, July 19, 2011

US Federal Agencies Report on Risk Management Supervision of Designated Clearing Entities

Section 813 of the Dodd-Frank Wall Street Reform and Consumer Protection Act 2010 requires that the Commodity Futures Trading Commission and the Securities and Exchange Commission coordinate with the Board of Governors of the Federal Reserve System to jointly develop risk management supervision prog
Originally Published: 
Thursday, July 21, 2011

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