The Combined Code enshrines the principles of corporate governance for UK companies. It has been very influential but many companies also question its value. The authors, with the help of survey results from Deloitte, assess the change which is being brought about.

The author, head of professional affairs at PricewaterhouseCoopers, suggests that there are great differences in the approach to regulation between the USA and Europe and suggests that the issues of risk management needs to better take this into account as the year 2004 unfolds.

Capital is key to any financial institution. Companies in other industries need capital to buy property and production equipment. For financial institutions, the primary function of capital is to cover unexpected credit and market risks losses, because risk of such losses inevitably accompanies...

Amin Mawji leads Ernst & Young’s aerospace and defence industry group in London. Here he argues that in the aftermath of a period of corporate uncertainty the need for applying practical tests for real risks on long‐term projects is even more important.

UCITS III has direct implications on risk management activities of asset managers. On 13 February 2004, German regulators published a derivatives ordinance (German: “Derivateverodnung”, Derivate V) being the first regulatory body throughout Europe to implement the EU regulation into local...

The author, a stalwart of the UK Asset and Liability Management Association, provides a guide to the construction and make‐up of bond indices and argues that users should assess them in great depth until they gain a proper understanding of what they will gain from their use.

As the end of the 2006 deadline to implement regulatory changes being proposed by the Basel Committee on Banking Supervision looms closer, banks are battling to make their credit risk management systems compliant. But the majority are looking beyond the demands of the regulator. Some are...

The author, whose company runs training courses for the UK Asset and Liability Management Association, explains the rationale behind the training and importance of creating informed professionals within the asset and liability management community.

Advances ongoing risk management and opens with a short example of how one senior operating executive stated there were no risks to his business unit. Claims that managers cannot be blamed for lack of knowledge in this area, as it is only lately that new approaches, to use powerful tools in...

Looks at some case studies from the world of global risk management and analyses their successes and failures.