Previous OTC Conseil Americas Newsletters

Newsletter #35 - March 2012
Beyond Borders
FATCA: Proposed Regulations and Intergovernmental Cooperation

In this month's newsletter, we set our sights on another U.S. regulation, FATCA. The law, for which a proposed regulation and joint statement were released in February 2012, is bound to have significant implications for the international financial system. Full Editorial


Newsletter #34 - February 2012
Europe's Dodd-Frank
EMIR: Redefining the OTC Derivatives Market in Europe

This month, we move our lens from the Dodd-Frank Act to Europe's congruent efforts to reform the financial system through the EMIR regulation. Full Editorial


Newsletter #33 - January 2012
Duty Calls
Dodd-Frank and the Broker-Dealer: The Call for a Uniform Fiduciary Standard Under Section 913

To kick off 2012, we focus on one of the topics from last month’s updated summary of the Dodd-Frank Act – a uniform fiduciary standard for broker-dealers and investment advisers. Full Editorial


Newsletter #32 - December 2011
Along the Path
An Updated Overview of the Dodd-Frank Act

We conclude 2011 with our continued theme of the Dodd-Frank Act by stepping back and taking a broad view of the regulation. This article provides an updated overview as the Act continues to change and gain clarity. Full Editorial

Newsletter #31 - October/November 2011
Dodd-Frank: The Return
The Volcker Rule: Section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act
The Impact of the Dodd-Frank Act on Swap Clearing

Given our commitment to providing our readers with insight into regulatory issues, we turn this month to two of the most sought-after items of the Act -Title VII's Swap Clearing and the Volcker Rule. Full Editorial

Newsletter #30 - September 2011
If You See Something, Say Something!
Dodd-Frank’s New Whistleblower Program: Greater Scope and Higher Incentives for Informants

With the Dodd-Frank Act the regulatory hot topic, we explore yet another facet of the legislation, the Whistleblower Program. We discuss ways in which companies can take measures to put infrastructures and procedures in place to ensure greater accountability. Full Editorial

Newsletter #29 - August 2011
Balance Beam 
Managing UCITS Liquidity Risk

How can asset managers best manage UCITS liquidity risk? This month, we underscore our expertise servicing European clients with US entities, by putting forth suggestions on how to optimize liquidity risk on both asset and liability sides. Full Editorial


Newsletter #28 - July 2011
Lean on Me
Can Lean Six Sigma Help Streamline Your Project Portfolio?

In projects and programs, defining decision points is paramount. As is a sound methodology. In this article, we focus on project portfolio streamlining using the Lean Six Sigma methodology. Full Editorial


Newsletter #27 - June 2011
Buffer Zone
Basel III: Impact and Expectations

What can we precisely expect from Basel III? In this article, we present our expectations from the regulation, weighing both positive and negative aspects. Full Editorial


Newsletter #26 - May 2011
Cash Only
Basel III, Liquidity Risk and Stress Tests.

Systemic risk is an exceedingly present reality, liquidity requirements are of major concern for all market players and regulators. Once again, we arrive at our long-term risk approach: liquidity management and stress tests are real tools of long-term risk management. Full Editorial


Newsletter #25 - April 2011
Offshore No More
FATCA legislation

The US government has decided to impose stringent controls on undeclared foreign accounts with the new FATCA legislation. In this month’s article, we analyze the act's key requirements and highlight the changes that financial organizations must effectuate. Full Editorial
 

Newsletter #24 - March 2011
General Counsel
Title IV of the Dodd-Frank Act

Gone are the days when funds and fund advisers were spared oversight. We return to the main regulatory focus of this year, the Dodd-Frank Act, with a feature on Title IV and its consequences on hedge fund and private fund advisers. Full Editorial


Newsletter #23 - February 2011
The Heat is Up!
Electricity Trading in the US

Energy trading has become increasingly prolific over the past decade, and therefore it is important to take a close look at the different energy sources and the complexity of their markets. In this month’s edition, we focus on the Electricity Trading landscape and give you insights into the framework of the US market. Full Editorial


Newsletter #22 - January 2011
Clear View
Title VII of the Dodd-Frank Act

The Dodd-Frank Act will have a major impact on market regulations, specifically for the derivatives industry and its regulatory framework. This month, we focus on Title VII of the Dodd-Frank Act and its operational consequences for Corporate and Investment Banks. Full Editorial


Newsletter #21 - December 2010
Electro-Cash
The Convergence of Trade and Cash Management Activities

Corporate monitoring of international trade and handling the means of payment have come to a crossroad. This month,  we share the latest news on this trend, particularly the challenges of total convergence that remain given the dematerialization of payments required.  Full Editorial

 
Newsletter #20 - November 2010
Supertools
Credit Risk Integrated Services (CRIS)

Of OTC Conseil's R&D efforts, two have been certified as "Innovative Projects" by the Finance Innovation competitiveness cluster. This month, we focus on one such endeavor: CRIS, a light Web-access and fully integrated platform that easily prices and assesses risks relating to credit derivatives. Full Editorial


Newsletter #19 - October 2010
What's the Fuss?
Hedge Fund Leverage
Sarbanes-Oxley 404: The Impact on European Companies Listed in the US Markets

This month features two articles. The first zeros in on total return swaps commonly used as collateral by hedge funds, while the second analyzes the consequences of Sarbanes-Oxley 404 for European companies listed on the US market. Full Editorial

Newsletter #18 - September 2010
High Tension
Including Stress Tests in Risk Management
Liquidity and Confidence Risk

At the management level, extreme risks have to be carefully considered, particularly liquidity risk linked to confidence.  This  month's edition discusses risk management as a global company management tool and analyzes the fundamentals. Full Editorial

 

Newsletter #17 - August 2010
Building Bridges
Infrastructure Funds: The Why, What, and How?

As a result of the drastic change to the political and economic landscape over the past two years, Public-Private Partnerships have been arising. These tend to be managed by infrastructure funds, which is the topic of this month's newsletter. Full Editorial

Newsletter #16 - July 2010
Econology
Introduction to the Biodiversity Economy

The aggregate impact of the massive oil spill in the Gulf of Mexico on nature, life and the economy is undeniable. With this as the backdrop, we study the strong inevitable link between biodiversity and economics. Full Editorial

Newsletter #15 - June 2010
Compliant, Now What?
Operational Risk Management and Quality
From Calculating Capital to Improving Operational Performance

Control, risk management, and assessment are musts, but at what price? This month, we explore this topic in two articles: the first takes an operational risk approach based on risk management and quality, while the second shows how operational performance can be improved by calculating capital. Full Editorial

Newsletter #14 - May 2010
Are You Exposed?
Risk in Emerging Markets: Changing Perceptions
Basel II 2010: A Response to the Market Crisis, but at What Price?

Various factors such as country risk as well as methods for risk assessment have evolved over the past. In the first article, we focus on country risk fundamentals; next we move to credit risk by inspecting the details of new rules created by Basel II that respond to the crisis.  Full Editorial

Newsletter #13 - April 2010
Don't Step into the Puddle
Natural Catastrophe Risk Management

The world has experienced no shortage of natural catastrophes lately. This month's first article offers an analytical and managerial approach to credit portfolios as borrowers are subject to these natural catastrophes. In the second article we focus on another kind of insurance, variable annuities, which are controversial in the US but growing in popularity in Europe.

 

Newsletter #12 - March 2010
Coffee for Whom?
Aspects of Forward Contracts in the World of Commodities
An Original Approach to the KYC System

This month we start with a brief description of the specifics of commodities markets, and then cover Know Your Customer (KYC) system requirements, which should above all seek efficiency in information processing. Full Editorial

Newsletter #11 - February 2010
Higher Gear
Product Lifecycle Management in CIB: a Real Answer
Reputation: Preserving the Essential

Clients have been brought back to the center of attention in every business. However, with this emphasis on the client, it mustn't be forgotten that the product lifecycle still has to be carefully managed, which is the topic of our first article. In the second article, we share our thoughts on ways to manage and control reputational risk in the context of companies' recent struggles. Full Editorial

Newsletter #10 - January 2010
Heating Up
Ideas and Stakes in Copenhagen
The Copenhagen Accord: What It Tells Us

One of OTC Conseil’s premier experts on climate-related issues spent a week in Copenhagen participating in and analyzing the meetings of the UN Climate Change Conference. In this month’s newsletter, we present her objective assessment of the resulting Copenhagen Accord. Full Editorial

Newsletter #9 - December 2009
Risk Intelligence
R.I.S.K.: A Project, an Event
Strategic Management of Liquidity Risk

In the wake of the Lehman and Madoff events, resilience, i.e., a company's ability to recover from a major shock, should be at the top of the list of concerns. Therefore, it was logically the topic of the first annual R.I.S.K. event organized by OTC Conseil, from which the issues are summarized in this month's first article. Incorporated in this central theme, we present in the second article some keys to implementing strategic and efficient management practices for liquidity risk. Full Editorial

Newsletter #8 - November 2009
Navigating
Cash at Risk: Managing Liquidities
Business Reporting: Attributing Performance

Good management practices require constant budget planning updates. By using improved Value at Risk tools, Cash at Risk (the subject of this month’s first article) helps to ensure greater conformity between a company’s economic reality and the management of its budget. Next, we offer easy-to-implement budget-based methods for making more effective use of business reporting. Full Editorial

Newsletter #7 - October 2009
Adding Value
Compensation and Value Added
Counterparty Risk Management: External or Internal Ratings?

Establishing incentives and assessing risks are essential to sustained growth. With compensation policy under scrutiny, it is necessary to first understand what kind of value is added. We address this topic in our first article, and then move on to counterparty risk assessment and the decision between using an external and in-house rating system. Full Editorial

Newsletter #6 - September 2009
Waterproof
Weather Risk Management
Liquidity Risk Management between Systemic and Prudential Regulation

Weather sensitivity, just like every other risk factor, must be assessed, managed and optimized as part of a company's steering analysis. In the first article, we offer guidelines for understanding, measuring and managing a company’s weather risk. We then turn to another such sensitivity, liquidity risk, in the second article. Full Editorial

Newsletter #5 - August 2009
What's Your Plan?
Project Portfolio Management

With the word “reorganization” on everybody’s lips, project management is naturally a priority. When it comes to managing a range of topics, Project Portfolio Management is at the crux of successful execution, and by extension, the overall success of a company’s reorganization; we therefore dedicate this month’s newsletter to the subject. Full Editorial

Newsletter #4 - July 2009
Yours or Mine?
Transfer Pricing: Policies to Revisit

Principles of transfer pricing, which are a real concern for all multinational companies, may seem quite basic on the surface, but the reality is that their application is complex and strongly regulated. Thus this month’s newsletter gives an in-depth analysis of the way multinational groups value and shift internal costs and profits between their subsidiaries. Full Editorial

Newsletter #3 - June 2009
The Pressure Is On
Stressing the World
Managing Information Systems Risks: a Holistic View

For banks, vulnerability analysis and security/vitality arbitrage are fundamental. Consequently, this month’s newsletter begins by focusing on the two major outcomes of stress testing, and then proceeds to examine the benefits of a holistic approach to Information System risk. Full Editorial

Newsletter #2 - May 2009
Reinvent Yourself!
Revamping the Economic Model of Corporate and Investment Banks
TMS: Burden of Choice or Embarrassment of Riches ?

The crisis has resulted in significant internal reorganizations and strategic orientations for financial institutions. In this context, our first article presents our argument in favor of the reinvention of the CIB model. The second article provides a benchmark of the market solutions on Treasury Management Systems (TMS). Full Editorial