Tag Archives: Op ed

8 years on, has Lehman cut global bank risks?

The Great Financial Crisis still casts a shadow in the industry, eight years on. The fear remains that it might not be the main event, but simply advance warning of something bigger. After two decades of accumulated bank leverage and a few years of irresponsible lending, the remedy has mainly been sticking plasters. Regulation has […]

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Audit firm governance needs to reflect the public interest

Is audit quality good enough? In large part that must depend on how well firms that carry out audits are run, and the Financial Reporting Council has opened a consultation on its governance code for such firms. The Audit Firm Governance Code dates to 2010, when the FRC introduced it to address audit problems from […]

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Systemic Risks in Money Market Funds

Despite new support from Europe for the financial sector, markets are still exposed to one big hidden risk. Potential problems in almost every type of financial institution and security have been tackled, yet a key danger remains. Money market funds seem to have escaped the big financial sector reforms of the past two years. The […]

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Barclays not alone on LIBOR; other frauds will emerge

Soon, many other banks will join Barclays in facing the consequences of the LIBOR scandal. But as the net widens, the affair is telling us about more than just banking. Regulators, politicians and many other sectors will be called into question as the affair unravels. LIBOR fixing has some broader lessons for public morality. The […]

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When “Investment Research” is not Independent Research

City analysts are swamped daily with research of variable quality. The move from printed reports to electronic media has triggered an explosion of content. Amidst all this noise, can investment managers sift out the key information they need? Unfortunately, knowing what to trust is complicated by the loose way in which research is described. Terms […]

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Kay Review & Executive Incentives

The flurry of consultations on executive pay now looks like a damp squib. The topic featured in the Kay Review and also Vince Cable‚Äôs Department for Business Innovation and Skills consultation – but both have missed the opportunity for real reform. Remuneration consultants, in particular, have escaped much criticism. Yet, reform of the way they […]

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