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Risk Management News Updates, January 16th 2013
BCBS easing Basel III LCR norms, US SEC’s new general counsel appointment and PCBS’s inquiry into UBS banking standards.

January 16, 2013 | The Asian Banker Editor

BCBS eases Basel III LCR norms
Basel Committee on Bank Supervision has relaxed Basel III liquidity requirements set for banks around the world. Banks would now need to have 60% of short-term funding in place when the rules become effective in 2015, and would have until 2019 to fully implement Basel III’s liquidity coverage ratio.

Geoffrey Aronow appointed US SEC general counsel
Geoffrey Aronow replaced Mark Cahn as US Securities and Exchange Commission’s (SEC) general counsel. As SEC’s chief legal officer, Aronow will lead the Office of the General Counsel in advising the agency on issues ranging from enforcement actions, rulemakings, and legal proceedings in federal courts throughout the country.

PCBS grills UBS executives on bank standards
Britain’s Parliamentary Commission on Banking Standards quizzed UBS investment banking head Andrea Orcel, group chief risk officer Philip Lofts, global head of compliance Andrew Williams, and former heads of the bank about UBS’ banking standards and culture as part of its inquiry into industry standards, following recent scandals that rocked UBS’ London branch.

 

Re-disseminated by The Asian Banker

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Categories: Risk And Regulation Working Group
Keywords: BCBS, SEC, PCBS, UBS