Technology Charts a Course for VaR

Xavier Bellouard, Quartet Financial Systems

It seems the UK’s Financial Services Authority (FSA) is delivering on its promise to provide greater supervision and enforcement of financial institutions’ risk management. In 2009 and 2010, the FSA issued a record number of fines, eclipsing the levels of the previous year by 21 percent, according to a report from London-based law firm Reynolds Porter Chamberlain. In total, the report suggests that the regulator handed out penalties totalling £33.1 million ($48.2 million) over the course of the

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