Risk Management, PRMIA

April 19, 2007

SEC Announces AML Compliance tool to assist Broker Dealer Industry

This is an interesting news on Regulators taking a more pro-active role in collaborating with the industry to faciliate compliance practices.

SEC Staff Announces Availability of Anti-Money Laundering Compliance Tool
FOR IMMEDIATE RELEASE
2007-67
Washington, D.C., April 16, 2007 - The Securities and Exchange Commission's staff today announced the availability of a new compliance tool to assist anti-money laundering (AML) compliance efforts by broker-dealers. The "AML Source Tool" is on the Commission's website at: http://www.sec.gov/about/offices/ocie/amlsourcetool.htm
Broker-dealers have compliance obligations under statutory and regulatory provisions and related rules of the securities self-regulatory organizations (SROs). The AML Source Tool, developed by the SEC's Office of Compliance Inspections and Examinations (OCIE), compiles and organizes key AML laws, rules and related guidance applicable to broker-dealers and provides links to these materials to promote easy accessibility.
"We're hoping that this AML Source Tool will assist broker-dealers with their AML compliance efforts," said Lori Richards, Director of OCIE. "It puts all AML requirements in one easy-to-reference location. While we initially developed the Source Tool for our own SEC examiners, we think it also will be an invaluable reference tool for broker-dealers and their internal AML compliance staff."
The Commission's staff appreciates the assistance it received from the staff of the U.S. Treasury Department's Office of the Financial Crimes Enforcement Network (FinCEN) and Office of Foreign Assets and Control (OFAC), as well as from the NASD and NYSE.
http://www.sec.gov/news/press/2007/2007-67.htm

Posted by spachava at 06:04 PM | Comments (0)

April 12, 2007

10 Risk Frontiers ideas seeking thought leadership !

Risk Mgmt & Compliance developments and practices continue to evolve so dramatically each day!

Sleepless in Seattle, I start this blog to share, discuss and most importantly learn about the new Frontiers in Risk & Compliance - both current & futuristic trends with signficant impact on the Risk Mgmt & Compliance practices & profession.

My future observations would focus on the following 10 Risk frontiers:

1. Risk Visualization
2. Next Generation Risk & Compliance Architectures
3. Risk Pricing Clusters
4. Risk & Compliance Taxonomy
5. Pan Regional Risk Data Grids
6. Digital Assets Mgmt
7. Cross Industry Risk mgmt practices
8. Incubating Centers of Risk Mgmt Excellence & practices
9. Risk Management Career Options
10. Embedding Risk Mgmt & Compliance in an organisational DNA

Posted by spachava at 07:49 PM | Comments (3)