Recent financial services publications |
| April 2013 | |
| USA | U.S. Residential Mortgage Market Update: Industry metrics and analysis The quarterly report is a compendium of housing and mortgage market indicators, designed to help keep a pulse on the market. Since the October update, many developments have affected the outlook for housing, particularly: improved market fundamentals, rebounding sales and prices; increased demand for mortgages; and continued improvement in asset performance. |
| March 2013 | |
| Global | IFRS for Investment Funds 2012: Elements for successful growth As the global economy appears to be emerging from the financial crisis, global investment managers look for opportunities and markets for their strategies and products to be successful and where the accounting standards must be understood. This document helps provide clients with descriptive examples, including a variety of industry disclosures with sample financial statements. |
| UK | Future of Bank Treasury Management: A profession in focus This paper examines the current landscape in which the UK Treasury operates and focuses on the challenges it needs to overcome to achieve its post-2015 vision. The Treasury function has a critical role to play in shaping bank strategy as Treasury-linked challenges such as deleveraging balance sheets, maximising capital efficiency and improving risk-return ratios are here to stay. |
| USA | Developing an effective governance operating model: A guide for financial services boards and management teams This paper, prepared for board members, board committee members, senior executives, and risk managers at financial services companies, aims to assist boards and others with governance roles in developing a robust governance operating model. |
| USA | Non-traditional Commercial Real Estate: Capitalizing on the REIT opportunity An alternate real estate investment trust (REIT) segment has emerged recently. It is comprised of income-producing real estate such as timber, data centers, document storage facilities, cell towers, prisons, and billboards. These companies are classified as “non-traditional” as the underlying assets have different and unique characteristics. |
| USA | Resolution Planning: Realizing Business Value on the Path to Compliance Large systemically important financial institutions (SIFIs) are likely feeling the impact of new regulations being imposed around the world and for many, developing mandatory resolution plans will be difficult. Resolution plans must clearly demonstrate how the organization can resolve itself without creating systemic risk to the U.S. economy. |
| USA | State of the media democracy: A multi-generational view of consumer technology, media, and telecom trends What age group banks on their smartphone or tablet most frequently? Explore how consumers are evolving within the changing landscape of device ownership and utilization, subscription services, advertising platforms, social networking adoption, mobile implications and emerging payment models. |
| USA | Top 10 Issues for Insurance M&A in 2013: Time for mergers and acquisitions to take off? The current environment seems more conducive to accelerating M&A activity than a year ago, and as a result, the industry could see activity of significance that it hasn’t for the past several years. This paper takes an in-depth look at the top 10 issues insurance companies across many market segments should consider when developing their 2013 M&A strategies. |
| February 2013 | |
| Global | GFSI Propositions - Aide-mémoire Deloitte’s Global Financial Services network has developed 12 multidisciplinary propositions (suites of services), which member firms deliver to global financial services institutions. These propositions support financial institutions in understanding and addressing current market issues that they and their organizations may be facing. |
| Australia | The Mutual Authorised Deposit-Taking Institution (ADI) of the Future: Thrive Individually the key forces for change in our business environments present significant challenges and risks to Mutual ADIs. Together, those forces are creating a disturbance that is increasing these challenges and risks, and creating significant opportunities. This publication describes 9 broad categories which are underpinned by 55 levers that Mutual ADIs can pull to achieve a dynamic resilience and thrive. |
| Central Europe | The Banking Sector in Central Europe - Performance Overview: An analysis of the banking sectors in Bulgaria, Croatia, the Czech Republic, Hungary, Poland, Serbia, Slovakia and Romania This report describes the factors impacting the profitability of banks in central Europe. It identifies key revenue drivers and elements that influence the banks” costs. It addresses the question of how heavily those provisions are impacting upon the net profits. It also covers the impact of new banking taxes and other regulations. |
| UK | Addressing the risks posed by systemically important banks: The end of too big to fail? 2012 saw significant developments in regulation and supervision for systemically important banks. Progress was made in several key areas: drafting recovery and resolution plans; and advancing the work on capital, supervision, data, and restructuring the banking sector. There is no sign of a slowdown in 2013. |
| UK | Counterparty Risk and CVA Survey: Current market practice around counterparty risk regulation, CVA management and funding Deloitte UK, in partnership with Solum Financial Partners and alongside other Deloitte member firms, has conducted a survey on Counterparty risk across 21 participating banks. This report takes stock of the industry’s response to the numerous theoretical issues and operational challenges raised as a result of the evolving regulatory, accounting and risk management environment. |
| USA | 2013 Insurance Industry Outlook: New Realities in a Recovering Economy Insurers face fundamental problems with reaching evolving markets, enhancing customer experience, and operating efficiently. What proactive steps can carriers take to address these challenges while setting the stage for more sustained expansion? Discover how insurers can employ their people and capital more productively in an increasingly competitive market. |
| USA | Chasing Higher Yields: Buying, renting and selling single family residences Private investors are entering the distressed single-family home market with increasing frequency, buying large numbers of properties with intent to refurbish and then rent and/or sell them. This article offers perspectives on single-family residential foreclosure sales. |
| USA | Divestiture survey report 2013: Sharpening your strategy Divestitures are becoming more a matter of strategy than survival. Deloitte surveyed executives regularly involved in divestitures to assess the past experience of their companies, their outlook for the future, and the challenges they face. |
| USA | Expectations & Market Realities in Real Estate 2013: Turn the page Frustrated by continued uncertainty, a sluggish recovery, and a challenging investment environment, real estate investors appear eager to put the past behind them, as outlined in this report published jointly by Real Estate Research Corporation, Deloitte, and the National Association of Realtors. |
| USA | Meeting the Retirement Challenge: New approaches and solutions for the financial services industry This cross-FSI report, based on survey conducted by the U.S. Deloitte Center for Financial Services, analyzes the five barriers inhibiting many Americans from taking a more disciplined approach to setting their retirement goals and how financial services institutions may be able to overcome them. |
| USA | OTC derivatives reform: This is just the beginning… This paper focuses on four key mandates arising from Dodd-Frank for OTC derivatives and attempts to define many of the “unknowns” and compliance challenges across OTC derivatives market participants. |
| USA | Retail bank pricing: Resetting customer expectations This point of view analyzes the results of a Deloitte customer survey on bank pricing. The report looks at customers” perceptions of banks and pricing preferences and suggests a segmentation approach. |
| USA | Risk Angles: Five questions on risk assessment While it’s important to develop the visibility of risks, it’s just as important to measure and prioritize them so that an organization is prepared to respond to them in an appropriate manner. Because the environment in which you’re operating is constantly evolving, it’s important that organizations are focusing on the right risks, at the right time, in the right ways. |
| USA | Unlocking the Potential of Finance for Insurers In addition to its traditional responsibility of preserving value through reporting, controls, and risk management, the Finance function is increasingly expected to create value by developing and executing business strategy in such areas as profitability analytics, mergers and acquisitions, capital management, and integrated performance management. |
| UK | Insurance Market Update: February issue (Newsletter) The effects of adverse weather on domestic household insurance market |
| USA | Debt Capital Market News: February issue (Newsletter) High-yield market leads new leveraged issuances; Pricing trends favor higher-rated, amortizing credits; M&A and LBO volume remains constrained in 2012 |
| January 2013 | |
| Global | Third Global IFRS Banking Survey: Still far from land? The IASB has been continuing to find common ground with the FASB. This survey of effects on banks includes responses from 70 global banking groups, including 19 of the global systemically important financial institutions. The survey has been conducted over a critical period in the development of IFRS 9 and seeks to provide our clients, standard setters and regulators with insights into current thinking across the sector. |
| UK | Mortgage Series on Management Estimates: A series of papers that looks at management estimates from a variety of topics The process and policies for developing management estimates – and the assumptions used in those estimates – are critical components that should be refreshed in order to properly reflect the associated assets and liabilities for financial statement users. This series elaborates on the accounting, financial, operational, and regulatory impacts of mortgage servicing rights, servicing advances, compensatory fees, and putbacks. |
| UK | Top 10 for 2013: Our outlook for financial markets regulation and supervision At the start of 2013, against the background of slippage in the timetable for some key initiatives in the post-crisis regulatory reform agenda, and growing concerns about the weakness of the economic recovery in Europe, this paper sets out our view of ten key regulatory and supervisory topics for the year ahead. |
| USA | 2013 Life Insurance & Annuity Industry Outlook: Considering new directions in a recovering economy This outlook explores 10 critical issues that senior executives from life insurance and annuity companies should take into account in 2013 and beyond. |
| USA | 2013 Property & Casualty Insurance Industry Outlook: Poised for sustained growth, but challenges remain This outlook explores 10 critical issues that senior executives from property and casualty companies should take into account in 2013 and beyond. |
| USA | First Look: Implications of the ability-to-repay rule and qualified mortgage definition In January 2013, the U.S. Consumer Financial Protection Bureau (CFPB) issued the ability-to-repay rule and defined qualified mortgage (QM). This rule is designed to assure the reliability of mortgages – making sure that lenders offer mortgages that consumers can actually afford to pay back. The industry has until January 2014, when the rule takes effect, to prepare itself for a new QM-world. |
| USA | Foreign Account Tax Compliance Act (FATCA) regulation comparison The U.S. Treasury Department and the IRS used the numerous comments in response to the proposed FATCA regulations to develop the final regulations. Deloitte has developed a comparison document, highlighting many of the changes that occurred between the proposed regulations that were released in February 2012, and the final regulations that were released on 17 January, 2013. |
| Global | Performance: Issue 10 (Newsletter) Target Operating Model review, Fund range optimisation, constant NAV for money market Funds, Tax implications of AIFMD |
| December 2012 | |
| UK | Recovery and resolution for non-banks: Building a safer financial system This paper provides an overview of the first European Commission consultation on non-bank financial institutions (published October 2012) and outlines the early regulatory thinking around the issue of recovery and resolution, first for Financial Market Infrastructure (FMI), and then for insurers. Although the focus is on the EU, the briefing is set within the UK and international context. |
| USA | 2013 Asset Management Outlooks: Conditioning to win As great as the challenges are that asset managers now face, some came out of the past year stronger than they went in. In 2013, we expect more funds to thrive as they focus their investments and capability building in three key areas: adapting to an evolving regulatory landscape, exploring non-traditional growth opportunities, and shifting more of their attention back to operational efficiency. |
| USA | 2013 Hedge Fund Outlook: Some gains, more pains The hedge fund industry has some positive momentum as it heads into the New Year. But careful choices and deliberate action may be needed to help ensure continuing success. This report explores three strategies that will likely shape hedge fund industry priorities in the New Year and beyond. |
| USA | 2013 Mutual Fund Outlook: Shifting gears for future growth The mutual fund industry seems to be in good position to respond to whatever may lie ahead. But careful choices and deliberate action may be needed to help ensure continuing success. This report explores three strategies that will likely shape mutual fund industry priorities in the New Year and beyond. |
| USA | First look: A practical guide to the Federal Reserve’s newly enhanced prudential standards for foreign banks The U.S. Federal Reserve recently released its enhanced prudential standards rule that introduces a new level of discipline to its oversight of foreign banking organizations in the U.S. banking system. |
| USA | Private Equity Fund Outlook: In search of firm footing With assets under management now reaching $3 trillion, the private equity industry has some positive momentum as it heads into 2013. It seems to be in good position to respond to whatever may lie ahead. But careful choices and deliberate action may be needed to help ensure continuing business success. This report explores three strategies that will likely shape priorities. |
| UK | Investment Management Regulatory Update: Q4 2012 issue (Newsletter) European and UK regulatory developments |
| November 2012 | |
| Global | Banking Analytics: The three-minute guide There are three main drivers of analytics in banking & securities: Competitive advantage, systemic risk and regulatory reform. Each driver can lead to a number of solutions including: Customer analytics which enable enhanced visibility into current and potential customer profitably; Mortgage default and refinance solutions which identify high-risk borrowers early in the pre-collections life cycle. |
| Australia | Australian Mortgage Report 2013: Leveraging the opportunities In this eighth annual Australian Mortgage Report, Deloitte partners facilitate a roundtable that includes representatives from ten Australian banks. It looks at the market outlook for 2013 and beyond, and provides insights on current trends in mortgage market competition, margins, operations, consumer sentiment and appetite, as well as distribution. View the report online at deloitte.com. |
| UK | Bridging the advice gap: Delivering investment products in a post-RDR world Adviser Charging, which is to be introduced in the UK as a part of the Retail Distribution Review (RDR) from December 2012, is set to transform the retail distribution landscape. Financial advisers will no longer be able to receive commissions from product providers for recommending retail investment products to customers. Instead, they will have to charge their customers for advice. |
| UK | Finance Business Partnering survey report: Changing the focus of finance The 2012 Deloitte Finance Business Partnering Survey was launched on 5 November 2012. The results are based on an online survey of 134 Finance Leaders from 11 Industries in August 2012. |
| UK | Lehman’s legacy for London: The new alternatives for client money This report identifies 16 high-level impacts from the new proposals from the UK’s FSA. These impacts will increase costs for investment firms, and it is expected that many of these new costs will be passed on. The proposed changes will undoubtedly make client money safer, but there will be increased costs and complexity, and a possible draining of liquidity. |
| UK | No stone unturned: Transformational cost reduction in an era of market volatility With no end in sight to the prolonged volatility financial institutions have operated in since the start of the financial crisis, this paper looks at how UK investment banks, retail banks and insurers can achieve more from their cost reduction efforts, and how to do so permanently. |
| UK | The Cambridge European Property Industry Capital Structure Survey 2011 This survey represents the outcome of a significant research project of the EPRA membership undertaken in the summer of 2011 and examines trends surrounding capital structure, capital budgeting and decision-making between REITs and non-REITs, and between UK and other European property companies. It was conducted by Deloitte and the Cambridge Real Estate Finance Group over two years. |
| UK | The Internal Audit Fraud Challenge: Prevention, protection, detection Fraud remains on the forefront of board agendas with nearly half of organisations indicating that their vulnerability to fraud risk had increased in the last year. This report also reveals that 98 per cent of organisations encourage a strong approach to fraud risk, yet many organisations are still not performing regular fraud risk assessments, the most cost-effective way to identify weaknesses and stop fraud. |
| UK | The Mortgage Market Review: Exploring some of the impacts and considerations for firms as a result of mortgage reforms The Financial Services Authority’s (FSA) final mortgage rules were published in October. A series of lengthy consultations with the industry led to the FSA making a number of significant changes that have been welcomed by mortgage firms. This article explores some of the potential impacts on participants in the mortgage market and looks at the changes which may need to be implemented. |
| USA | 2013 Banking Industry Outlook: Moving forward in the age of re-regulation This report explores four major themes that senior-level bankers should be aware of: industrial operations, asset protection, delivery transformation, and return on capital. |
| USA | 2013 Capital Markets Outlook: It’s the end of the world as we know it This report covers 10 challenges to the capital markets industry; for each, we present an overview, new developments likely to emerge in the coming year, and a bottom-line recommendation for industry professionals. |
| USA | Blind spot: Banks are increasingly outsourcing more activities to third parties. But they can’t outsource the risks. This paper outlines how banks continue to outsource activities and highlights the potential risk banks are taking, renewed interest from the regulators, the three lines of defense, and more. |
| USA | Building a competitive advantage Learn how financial institutions can implement a smart, nimble way to manage risk as they compete in the mobile payments space. |
| USA | Growth Opportunities for Financial Services in Emerging Markets While many emerging markets are still addressing poverty, their high economic growth rates are fueling the emergence of a middle class that could represent an opportunity for financial services companies. To help you understand the opportunities, challenges, and risks, this global research project focuses on six countries in Asia-Pacific: China, India, Indonesia, Malaysia, Thailand, and Vietnam. |
| USA | The Mass Affluent Market: Changed Perspectives As traditional wholesale and retail lines of business face margin compression from the current interest rate environment and continued pressure on fees, many wealth management firms seek greater market share in the mass affluent market. This survey of 1,500 mass affluent consumers focused on changes in risk attitudes, investment goals, product preferences, and financial advisors. |
| Global | Insurance Accounting Newsletter: Issue 27 (Newsletter) Greater certainty on the roadmap to the new IFRSs comes with a likely end of IFRS-US GAAP convergence in insurance |
| UK | Banking and Capital Markets Insight: November issue (Newsletter) The importance of drafting a clear Tax Policy; IAS Board’s new “general” hedge accounting model; Proposed amendments to the European Commission’s Level 1 MiFID II proposals; EU proposals for recovery and resolution planning for non-banks; Reputational risk management |
| UK | Insurance Market Update: November issue - non-life insurers (Newsletter) The Reinsurance industry gathers in Monte Carlo |
| USA | Debt Capital Market News: November issue (Newsletter) Pricing declines overall in 3Q 2012; Fueled by high-yield market, new issue volume remains up in 2012; Middle market loan volume still below 2011 levels |
| October 2012 | |
| Global | Governance for Strengthened Risk Management The financial crisis highlighted weaknesses in many firms in the area of risk governance. While there is growing consensus on what constitutes sound risk management at a technical level, the governance dimensions of strengthened risk management continue to be challenging. The Institute of International Finance (IIF) task force published this paper with contributions from Deloitte. |
| Australia | Digital disruption - Short fuse, big bang?: Mapping disruptive innovation across Australia’s digital landscape This paper, the newest in Deloitte’s Building the Lucky Country series, considers the magnitude of digital transformation within Australian business and government (the size of the “bang”) as well as how quickly 18 industry sectors will be affected (the length of the “fuse”). |
| Canada | Cooperatives - Funding the future: Emerging strategies in cooperative financing This is the first global survey on cooperative funding conducted since the 2008 global financial crisis. CFOs and senior executives from the world’s largest cooperatives were asked how their organizations had fared during the crisis, and how their financing and capitalization strategies were evolving to respond to new market realities. |
| Canada | The future of productivity: Clear choices for a competitive Canada Over the last decades, the Canadian rate of productivity growth has lagged that of the U.S. and other advanced countries. There is a common prevailing belief that Canada’s poor productivity is the result of structural issues, namely the size and sector distribution of Canadian companies. This report provides insight into some long standing myths and highlight growth as a key driver of productivity. |
| UK | Deloitte Bank Survey 2012 - European bank deleveraging: Capital gain, asset loss The Deloitte Bank Survey 2012 focuses on deleveraging because it is the biggest challenge, among many, facing European banks. Deloitte UK undertook primary research alongside DTTL member firms across Europe, surveying 18 European financial institutions, representing €11 trillion of assets, about their experience and expectations of deleveraging. The survey was reinforced by one-on-one interviews. |
| UK | Looking beyond the numbers: Review of banks’ annual reports There has been an unprecedented level of interest in banks’ financial statements during the last few years. The new Interim UK Financial Policy Committee and the Financial Services Authority are taking an active interest in information reported by banks. Given this scrutiny, it is timely to take a step back and evaluate the UK banks’ most recent annual reports. |
| UK | Promoting stability: Insights into new recommendations for banks’ risk disclosures The FSA’s Enhanced Disclosure Task Force (EDTF) was established in May 2012 in response to concerns that banks’ risk reporting was not meeting investors’ needs. In October, the EDTF provided recommendations which aim to improve the clarity, timeliness and usefulness of information that banks provide to investors. |
| USA | A Look at Talent in the Financial Services Industry Numerous challenges are forcing financial services organizations to look at their underlying data and establish ways to increase its integrity, management, and strategic value. Examples of how these challenges manifest themselves are outlined in this point of view. |
| USA | Commercial Real Estate Outlook: Top 10 Issues in 2013: As the slow recovery continues, innovation to drive CRE growth The U.S. commercial real estate recovery, though slow, has been visible in improved fundamentals, capital availability, asset pricing and transactions. REITs continue to outperform others, but the recovery appears to be unsteady given the nation’s stalled economic recovery, which is due, in part, to sovereign debt problems and economic stagnation in Europe and slowing growth in emerging markets. |
| USA | Growing Pains in Wealth Management and Private Banking: Can you grow clients and assets without affecting service? This paper outlines four areas where wealth managers should focus their efforts so that growth from new clients and assets under management is less likely to negatively impact client service. |
| USA | Recent Developments in Prepaid Access: Considerations for deterring money laundering (Video) Prepaid cards and mobile technologies are taking the place of cash and other forms of payment and also making it easier for criminals to move illicit funds. New risks are a byproduct of any innovation and they are followed by new regulations. Watch this episode of Deloitte Insights to learn how card issuers and financial institutions can strengthen their anti-money laundering programs. |
| UK | Insurance Market Update: October Issue - life insurers (Newsletter) Solvency II |
| UK | Investment Management Regulatory Update: Q3 2012 issue (Newsletter) |
| September 2012 | |
| Global | 2012 Global Financial Services Industry (GFSI) Security Study: Breaking Barriers This is Deloitte’s eighth survey of information security practices in the financial services industry. The information was gathered from interviews and online surveys with over 250 of the world’s largest financial services institutions in 39 countries. This document can help practitioners assess and understand the state of information security and privacy in their organizations relative to comparable financial institutions. |
| Australia | The Deloitte Australian Banking Technology Report 2012: Shining the way The current environment for banks is really complex. There is a lot more to do and to invest in than in previous years, and a lot less to invest with. Hence the sense for CIOs to have to turn on the head of a pin, keep the lights on, and shine the way! |
| Canada | 21st century co-operative: Develop and grow to provide better services and higher value Learn how credit unions, centrals and system strategic partners can act now to improve operations, manage risk, strengthen governance and develop M&A strategies to provide their members with differentiated services and true value in the 21st century. |
| Canada | Information is the new currency of payments: Monetizing customer data will revolutionize the payments marketplace This monetization of data has the potential to change sources of revenue in the payments landscape, and will inevitably create winners and losers in the emerging ecosystem. Monetization of consumer information could be the biggest change in the payments landscape since the introduction of plastic cards. |
| Luxembourg | Risk management and conflicts of interest for Specialised Investment Funds: Solutions for a heterogeneous industry CSSF Regulation 12-01 will be implemented this year. It includes requirements for Specialised Investment Funds to dispose of risk management systems and conflict of interest policies in order to identify and manage any potential conflicts that could adversely affect the interests of its investors. |
| Luxembourg | Targeted learning solutions: Aligning learning with business objectives The more closely organisations are able to align learning strategies with corporate goals, the more value they will be able to deliver to their clients. Smart learning policies and strategies deliver measurable results. As such, appropriate plans need to be made and accountability measured over both the short and long term. |
| UK | Big data: Time for a lean approach in financial services Retail financial services firms are coming under increasing pressure to exploit so-called ‘big data’ (tweets, transaction data, email, basically anything recorded digitally). Traditionally they’ve been implementing large-scale data programs to make use of the vast quantity of digital information available. But these typical ‘big’ approaches come with a real burden in terms of money and time. |
| USA | Fair Value Pricing Survey, Tenth Edition: Looking back and looking forward: Perspectives on fair value — past, present, and future The results of this survey show that mutual fund firms continue to refine their fair valuation practices and procedures, especially as external events inevitably force the industry to react. In the tenth edition of this report, new survey questions shed light on governance and oversight, risk management, technology, and human resources. |
| Global | Performance: Issue 9 (Newsletter) Social media, securities lending on art, succession planning for hedge funds, internal audit in asset management, performance monitoring in asset management, new regulatory changes for OTC derivatives, senior secured credit asset classes, EMIR, Aberdeen and Santander tax reclaims, FATCA, AIFMD survey |
| UK | Banking and Capital Markets Insight: September issue (Newsletter) IAS Board’s ongoing reform of financial instrument accounting; Basel Committee’s review of the trading book; increased scrutiny by tax authorities on banking and securities transactions |
| UK | Insurance Market Update: September issue (Newsletter) The FSA’s consultation paper on its Review of the Client Money Rules for Insurance Intermediaries |
| August 2012 | |
| China | Trends and prospects in China’s mobile payment industry 2012-2015 Mobile payment in China is still in its infancy but, it is expected that mobile payment in China will usher in a golden period for development in the next three years. With the co-existence of opportunities and challenges, how to avoid risks and create competitive advantages through certain strategies becomes a major problem for all the players in this industry. (Available in Simplified Chinese only) |
| UK | IFRS 9 Classification and Measurement: Are you lost? It has not been easy to keep up to date with the IASB’s decisions on how to replace IAS 39 Financial Instruments: Recognition and Measurement. Questions have been asked about whether the requirements for financial assets and financial liabilities that were finalized in 2010 would be revised and in November 2011, the IASB decided to consider limited modifications to IFRS 9. |
| UK | The mutual for the future: Creating the building society for the next 100 years and beyond Building societies have come through the global banking crisis with their reputations strengthened, and there is widespread public and parliamentary support for local banking in the form provided by societies. This paper considers the competitive landscape for building societies, assessing the strengths of and threats to the mutual model and the opportunity for societies to maintain and increase market share. |
| USA | A Call to Action: Identifying strategies to win the war against insurance claims fraud Insurance claims fraud is estimated to cost property and casualty (P&C) insurers $30 billion annually, eroding profit margins and driving up premiums for many consumers. With losses mounting from fraudulent claims, fraud management has moved higher on the agenda of senior management. |
| USA | Blind Spot: How finance can lead the way in the customer-centric bank For today’s banks, becoming more customer-centric is a core business requirement. Whether the challenge is increased regulatory pressure, consolidation, cost pressures, or rapidly shifting consumer trends, a customer-centric focus can help to stay a step ahead of the competition. It can help grow revenues, improve reputation and drive performance. |
| USA | Expectations & market realities in real estate 2012 Developed along with the Real Estate Research Corporation and Real Capital Analytics, this publication looks across economic conditions and risks, the capital markets, the property markets, and the future outlook. |
| USA | IFRSs in your pocket 2012 This publication provides an update of developments in IFRSs through the second quarter of 2012, including the IASB organisation, use of IFRSs around the world, recent pronouncements, current Standards and related Interpretations, IASB agenda projects and active research topics, and current agenda topics for the IFRS Interpretations Committee. |
| USA | Leveling The Playing Field: Business analytics for mid-sized companies Analytics-as-a-service is a new delivery model that uses cloud computing to provide business insights without requiring significant investments in internal infrastructure and support. This development is helping mid-market companies to compete with larger companies in a cost-effective manner by better understanding their customers, operations, and overall business. |
| USA | Practicing Innovations in Health Care Delivery (Video) Accountable care organizations are fundamentally changing the way health care is delivered in the U.S., pioneering a more collaborative approach that aligns incentives with the value of care delivered rather than the volume of work done. |
| USA | Telematics: Driving the automobile insurance market through disruption This report introduces important aspects of the disruptive potential of telematics and both the opportunities and potential competitive threats it represents. With a deeper understanding of costs and business models, privacy concerns, and regulatory considerations, insurance executives may be better positioned to leverage telematics, proactively and strategically, for competitive advantage. |
| USA | Three Takeaways On Compliance Deadlines For Derivatives Rules Under The Dodd-Frank Act In July 2012, the CFTC and the SEC approved final rules defining what kind of derivatives products will be regulated under the 2010 Dodd-Frank Act, under which regulatory agencies are charged with overseeing the over-the-counter derivatives market. The intent is to provide greater transparency, reduce risk between counterparties, and strengthen capital and margin requirements. |
| Global | Insurance Accounting Newsletter: Issue 26 (Newsletter) The ‘OCI solution’ is in and convergence is increasingly out |
| July 2012 | |
| Global | Winning the waiting game?: Insurers’ preparations for the new IFRS accounting rules The proposed changes in International Financial Reporting Standards (IFRS) 4 Phase II, IFRS 9 and the corresponding proposals in the United States are highly complex. Implementing them will require considerable time and expense. This international study analyses over 200 insurers’ attitudes towards, and preparations for, these new accounting rules. |
| Australia | The future of exchanging value: Uncovering new ways of spending The easy accessibility of mobile payments technology means that today’s consumers are more mobile in their transactions and have a wealth of options available regarding where, when and how they make purchasing decisions. This report explores how the emergence of a new generation of payment solutions and business models is changing the payments landscape. |
| Central Europe | Setting a new course: The customer experience challenge facing Central Europe’s retail banks The report covers 5 key markets in the region. It includes an analysis of the needs and preferences of retail banking customers, and provides cross-country benchmarking. It gives financial institutions a roadmap that they will find useful at a time when the challenges of new customer and market trends are becoming increasingly complex and hard to predict. |
| Ireland | AIFMD survey: Responding to the new reality With the AIFMD, managers of non-UCITS funds, both onshore and offshore, will now be required to seek authorisation under a new and comprehensive EU regulatory framework with far-reaching business consequences. This survey of UK based investment managers from across the hedge fund, private equity and real estate sectors, examines how they plan to respond. |
| South Africa | Collections 3.0: Bad Debt Collections: From ugly duckling to white swan The consumer lending environment in South Africa has become materially more competitive. Relatively new lenders are gaining a stronger foothold in the market and competition from non-traditional lenders’ such as retailers. It is now likely that many consumers have four or more accounts. |
| USA | Future Tense: What two years of Dodd-Frank may tell banks about the future This article takes a look at where Dodd-Frank has taken the industry to date and shares some suggestions for banks looking for opportunities to turn this new regulatory environment to their advantage. |
| USA | Risk Angles: Five questions on cultivating a Risk Intelligent culture This interview answers some important questions on developing a Risk Intelligent culture. Even though many organizations have spent years developing and implementing risk management frameworks some of them are still experiencing significant, unexpected problems far more often than they would like. So what’s missing? |
| UK | Insurance Market Update: July issue - non-life insurers (Newsletter) The motor insurance industry has faced pressure from both supply and demand sides. |
| USA | Debt Capital Market News: July issue (Newsletter) Loan pricing increases in Q2 2012; Middle market LBO purchase price multiples regain momentum in Q2 2012; Middle market new issue landscape changing |
| June 2012 | |
| Global | Euro, Dollar, Yuan Uncertainties: Scenarios on the Future of the International Monetary System As the euro debt crisis spreads with wide ranging implications worldwide, a new report by the World Economic Forum, developed in collaboration with Deloitte, posits three scenarios for the international monetary system in 2030 based on possible policy choices made by the world’s three major currency areas—the euro, dollar, and yuan. |
| USA | Five takeaways on Dodd-Frank’s impact on consumer protection Financial services executives looking to understand the consumer protection issues in the age of Dodd-Frank should learn more about the CFPB’s mortgage servicing practices, how the CFPB will treat all other financial institutions, the CPFB’s coordinated response mechanisms for consumer complaints, New UDAAP and fair lending standards, and “bank-like” compliance systems for larger nonbank financial firms. |
| USA | Insurance Tech Trends 2012: Elevate IT for digital business This report provides a detailed look at the most important technology developments that will influence the world of business technology. It offers insight to insurers on how these trends might help them think differently, seize new opportunities, and accomplish meaningful business results. This year’s topics were chosen based on their potential business impact over the next 12 to 18 months. |
| USA | The Deloitte Shadow Banking Index Shadow banking may help drive the day-to-day financial system, but it is a concept looking for a hard-and-fast definition. The Deloitte Shadow Banking Index is to define and quantify the sector over time. |
| Global | Insurance Accounting Newsletter: Issue 25 (Newsletter) Convergence on insurance still at risk despite progress made in recent months |
| UK | Banking and Capital Markets Insight: June issue (Newsletter) The IASB’s macro hedging project, the Chancellor and HM Treasury’s strategy for making the UK “the most competitive tax system in the G20”, the balance between UK sovereignty and European regulatory and legislative processes, around the potential role of the ECB |
| UK | Insurance Market Update: June issue - non-life insurers (Newsletter) The impact of the Retail Distribution Review (RDR) on insurers’ approach to targeting and effectively segmenting the advisers they work with and how by tailoring their approach to advisers’ differing needs and characteristics insurers can gain competitive advantage. |
| May 2012 | |
| Global | Elements for success: Redefining success for financial institutions in a transformed industry Whether looking to remediate, restructure, comply, recapitalize or grow, financial services companies now need to generate success on multiple fronts including compliance, cost structures, customer satisfaction, innovation, operating models, and return on equity. These areas fall into a set of common themes which each business must address: restructuring, returns, relationships, reporting and risk management. |
| Global | Cultivating a risk intelligent culture: Understand, measure, strengthen and report An organisation’s culture determines how it manages risk when under stress. For some organisations, their risk culture is a liability. For others, it facilitates both stability and a competitive advantage. An organisation wishing to cultivate a Risk Intelligent culture should first understand and measure its existing risk culture. |
| Global | Global business-driven HR Transformation: The journey continues in financial services This HR FSI benchmark study uses information from 35 banks and insurance companies. It reveals critical information about process categories such as transaction processing, rewards administration, talent management administration, and strategy and program design. Basic HR capabilities such as service delivery, integrated HR systems, employee self-service, and access to workforce data are as important as ever. |
| China | 2012 China Banking Industry - Top ten trends and outlook: Enhancing capital management, meeting new challenges The macro-economic and financial environment of the banking industry across the world will remain complicated in 2012, ever-changing and risky. This report presents a selection of key issues. These hot topics also represent the top ten issues that will influence China’s banking industry in the coming three years. |
| Middle East | The GCC Powers of Construction 2012: Five lessons to learn from This publication tackles issues pertaining to the construction industry in the Gulf Cooperation Council (GCC). It includes expert views on opportunities in the region, setting up in Saudi Arabia, lessons learned, how the market will respond to challenges and the role of PPPs. |
| New Zealand | Implementation of Insurance Prudential Supervision Act 2010 The Insurance Prudential Supervision Act marks a milestone in the history of insurance regulation for New Zealand. For the first time, New Zealand insurance companies will need a license to conduct insurance business and are subject to the regulation of the Reserve Bank of New Zealand. |
| UK | Common Reporting (COREP): Are you tuned in? COREP (the European Banking Authority’s common regulatory reporting framework) will be mandatory in the UK from January 2013, and will require a significant increase in quantity and quality of data disclosures and more effective reporting processes and systems. This paper explains how financial institutions can optimise their implementation and ultimately comply with the required regulation. |
| UK | Joining the dots: An integrated approach to tackling financial crime Tightening regulation, growing demands by customers for integrity in firms’ financial dealings and increasing criminal sophistication are combining to create a perfect storm for the financial services sector. Firms need to invest in an integrated approach to financial crime that will align all business capabilities, including strategy, people, processes, technology and data. |
| UK | Product governance: The effect of regulatory initiatives on the UK market Over the past few years there has been a significant increase in regulatory focus on products. Regulation is underway to ban products that are felt to be inappropriate for the target market. The UK FSA is looking at products which it expects will pose a risk to consumers. Other jurisdictions in Europe are also taking action to intervene in the market with respect to products. |
| UK | Solvency II Survey 2012: Where are insurers heading? Deloitte’s annual Solvency II Survey, which has been conducted by the Economist Intelligence Unit on our behalf, is a survey of 60 insurers operating in the UK. It focuses on developments in insurers’ approaches to Solvency II, as well as highlighting the financial and business impact caused by the delay to full implementation. |
| UK | The CASS Resolution Pack: For firms holding client money and/or custody assets With implementation of a firm’s CASS Resolution Pack due by October 2012 this bulletin reviews the key implications for in-scope firms and details the various documents which are required by firms to ensure compliance. |
| USA | Risk Angles: Five questions about managing cyber risk With cyber-attacks becoming increasingly common, managing cyber risk is more important for executive leaders and board members. This issue answers questions about actions that can help manage and mitigate cyber threats and “hacktivism” in the financial services industry. |
| USA | Risk intelligent governance in the age of cyber threats: What you don’t know could hurt you Alarmed by an uptick in cyber-attacks on high-profile businesses, many financial services boards are asking their executive teams, “Could it happen to us?” This report begins to address risks associated with cyber-crime and measures management can take to prevent, detect, and respond to cyber security threats. |
| Global | Performance: Issue 8 (Newsletter) Regulation and risk; Post-crisis asset management environment; Data quality; Share class hedging; Financial inclusion; Pensions and IORP; International distribution; Qualitative fund ratings; MiFID II; Custodian responsibilities; AIFMD |
| UK | Insurance Market Update: May issue - non-life insurers (Newsletter) The “flight to scale” trend |
| USA | Debt Capital Market News: May issue (Newsletter) Loan pricing declines in Q1 2012; Refinancings dominate loan issuances; Middle market maturity wall remains significant |
| April 2012 | |
| Global | Managing sustainability risks and opportunities: How a structured approach can help private equity investors drive incremental value This article describes how a strategic, structured approach that balances portfolio and individual company sustainability considerations, may position private equity investors to meet both public expectations and government requirements for sustainability performance. |
| UK | Growth, risk and compliance: Taking a strategic approach to managing reference data Co-authored by Deloitte and SWIFT and with contributions from Chief Data Officers across the industry, this paper outlines the pervasive impact that poor reference data can have on organisations and makes the case for a strategic approach to managing reference data |
| USA | Bank Treasury Survey: Seeing through the settling dust The recent financial markets turmoil and new regulatory guidance have increased the demands on the role of treasury and are changing how they interact and align with risk management, finance, IT, senior management and the board. |
| USA | Banking the unbanked: Prepaid cards, mobile payments, and global opportunities in retail banking There is a large untapped banking market that most banks are ignoring — and that nonbank competitors have begun to cultivate effectively. This paper provides insights into the unbanked market and highlights products and solutions, such as prepaid cards and mobile payments for these consumers. |
| USA | How trendy are financial services? (Video) This video podcast discusses how financial services organizations are primed to take advantage of emerging technology trends like social business, mobility, and “gamification.” |
| USA | Mapping a path to profitability: Preparing for the future of the U.S. residential mortgage market The U.S. residential mortgage industry is undergoing one of the most wrenching transformations in decades. Record volumes of delinquencies and foreclosures, intense regulatory scrutiny, and legal woes on many fronts continue to hobble the industry. |
| USA | The Voice of the Life Insurance Consumer: What makes prospects tick? This report examines how recent survey respondents think about life insurance today, takes a look at their past purchase experiences and gives a peek ahead into how (and how much) respondents intend to buy in the near term. |
| USA | When doing “less badly” isn’t enough: Linking regulation with strategy in the post-Dodd-Frank era The dual challenges of the regulatory and earnings environments present financial institutions with an opportunity to build a new model that may help them thrive in the coming years. Learn more about the new regulatory environment, how the industry is responding, and a three-point strategy for institutions to consider. |
| UK | Banking and Capital Markets Insight: April issue (Newsletter) Implications of the Lehman judgment for the operation of the alternative approach to client money segregation; evolution of UK GAAP in the light of changes to IFRS; CRR and CRV IV; latest FATCA proposals; FSA’s latest Retail Distribution Review (RDR) |
| USA | Insurance Accounting Spotlight: Issue 4 (Newsletter) Intersection Ahead in the Revenue Recognition and Insurance Contracts Projects |
| March 2012 | |
| Global | Second Global IFRS Banking Survey – Q1 2012: Global banks react to developing accounting reform This second Global IFRS Banking survey includes responses from 56 global banking groups, with responses from most of the global systemically important financial institutions (G-SIFIs) identified by the Financial Stability Board. It aims to raise awareness of the size and scale of the impact of the proposed changes and to help banking clients better understand the impact of the proposed rules. |
| Argentina | Are we headed towards branchless banking? Branchless Banking is a strategy of distribution channels for providing financial services. It extends the concept of the traditional bank branch through the growth and development of technology and it can also be used to complement an existing network of branches. |
| Canada | Evolving in response to global re-regulation: How regulatory change will impact the future of the financial services industry The global financial services industry has witnessed significant regulatory changes that are challenging banks and insurers to find ways to adapt without sacrificing sustainable earnings. This report includes the key factors that promise to change the face of the financial services industry, how regulations are changing banking and insurance operations and strategies for adapting to a fundamentally altered future. |
| UK | Aggregated risk on demand: Why shareholders need what regulators want New developments in computing power will help financial institutions deliver the timely, accurate risk information that regulators are increasingly demanding. Firms have every reason to embrace the emerging technology known as ‘aggregate risk on demand’. It can help them improve pricing, optimize portfolios, conserve capital, cut costs and enable smarter, more timely decisions. |
| UK | Loan forbearance: No such thing as a free lunch During the present Financial Crisis lenders have made greater use of forbearance strategies, granting concessions to customers, both consumer and corporate, in actual or apparent distress to avoid, where possible, the pain of collecting on the debt, but there may be hidden costs and additional risks to forbearance. |
| UK | Managing non-core assets: Critical success factors for banks In response to regulatory, economic and market uncertainty, banks have embarked on a journey to restructure and resize their balance sheets. Recent experience, as well as prior financial crises across the world, shows there are many different structures and methodologies that a bank can use to manage down its non-core assets. |
| UK | The Mortgage Market Review: Common sense at the heart of mortgage lending This article highlights the key proposals and policy questions in the FSA’s Mortgage Market Review and explores some of the potential competition impacts on participants in the mortgage market. It also looks at some of the business changes which may need to be implemented, both to ensure compliance in new sales and to address legacy issues from past lending. |
| USA | Disruptive Technology: Are you ready for the postdigital age? (Video) Learn more about what’s next for the Internet and technology and the way it shapes our lives and businesses. |
| USA | Financial Services M&A in 2012: A cross-sector outlook Gain insights into some of the M&A opportunities and potential issues confronting financial services institutions. This paper touches upon the Volcker Rule, divestiture of non-core businesses, competitive reassessment. |
| USA | The Leadership Premium: How companies win the confidence of investors This paper presents the results of surveys and interviews, conducted with leading global market analysts, about the impact that leadership can have on share price. The results of the survey help to quantify the risks of a leadership deficit to an organisation. |
| USA | The Voice of the Personal Lines Consumer: Buyers in the driver’s seat This survey of policyholders looks at what makes personal lines insurance buyers tick in the current business environment. |
| Global | Insurance Accounting Newsletter: Issue 24 (Newsletter) Old disagreements and new delays make convergence uncertain |
| UK | Insurance Market Update: March issue - non-life insurers (Newsletter) Challenges faced by firms in meeting FSA requirements and the future of client money regulation in the context of regulatory changes |
| USA | Debt Capital Market News: March issue (Newsletter) Loan volume declined and pricing increased in the second half of 2011; Refinancings dominated 2011 loan issuances; Middle market maturity wall remains |
| February 2012 | |
| India | India Banking Fraud Survey - 2012: Navigating the challenging environment This survey shows that banks in India have witnessed a rise in the number of fraud incidents in the last year, and the trend is likely to continue. It points to the increased fraud incidents and low recoveries. With increased regulatory scrutiny, banks are under pressure to implement best practices and fraud risk management framework, but this appears to be a work in progress in many organizations. |
| Netherlands | Global Model Practice Survey 2011: Growth through Model Control This survey provides insight into the maturity of model practice within financial institutions. This survey focuses on the developments in the areas of the various elements of the model life cycle. The survey was conducted during the second half of 2011 and had the participation of 89 financial institutions from all around the world. |
| UK | Changing the domestic supervisory architecture in Europe: Scaling the peaks Financial services firms need to navigate an increasingly complex regulatory environment in which both the number and the nature of regulatory relationships are changing. Equally, supervisors are faced with a myriad of ‘design dilemmas’ as in practice the issues of systems with two regulators or multiple regulators is often in the detail. |
| UK | Legal Entity Identifiers: A global opportunity In response to the ineffective processes that were in place during the financial crisis for understanding counterparty exposures, the G20 has endorsed the Legal Entity Identifier (LEI) initiative. This initiative will lead to the creation of a unique identifier for any entity involved in a financial transaction. This paper looks at the background and scope of the LEI initiative as well as the impact it has on financial services organisations globally. |
| UK | Responding to the Retail Distribution Review: Legacy assets: Reading between the lines Since the publication of the FSA’s Consultation Paper (CP11/26) last November, firms” RDR programs should have had a workstream investigating the potential implications and impact in detail. Firms should now be well into design and potentially into implementation phases. However, all relevant assumptions and decisions should now be revisited as a result of this Policy Statement. |
| USA | Building Sustainable Risk Intelligence™ in Banking and Securities: The role of learning and development in the new regulatory environment Financial institutions that once practiced “high risk for high return” decision-making, are now more inclined to build and to execute stronger compliance and risk management programs. This report discusses the implications of the new regulatory environment, charting the events from 2009 to 2013. |
| USA | FATCA sector impact overview: U.S and non-U.S. real estate funds For the real estate industry, the new FATCA rules will impose additional challenges for both U.S. and non-U.S. real estate funds because of the many complicated and diverse investment structures that have become common in recent years. |
| USA | Foreign Account Tax Compliance Act (FATCA): New developments this month The U.S. Treasury Department and the Internal Revenue Service issued its proposed regulations for the next major phase of implementing FATCA. Enacted by Congress in 2010, the law targets non-compliance by U.S. taxpayers using foreign accounts. While some concessions have been made as a result of world-wide lobbying efforts, the draft regulations remain challenging. |
| USA | Internal Investigation Costs: Securing elusive insurance coverage This article discusses potential gaps between an organization’s perceived level of “investigations coverage” and the amount actually provided by common insurance policies, and suggests how organizations may locate options that provide their desired level of protection. |
| USA | Six Takeaways from Proposed FATCA Rules Issued by the U.S. Treasury Department and IRS The U.S. Treasury Department and IRS recently released details of their proposed plans to implement the Foreign Account Tax Compliance Act (FATCA), which is intended to prevent U.S. taxpayers from avoiding their tax obligations by using non-U.S. financial institutions. This document identifies six points that top financial services executives should consider before diving deeper into these new regulations. |
| USA | The Volcker Rule: Banking and Investment Management M&A Catalyst? (Video) While there is a lot of focus on what the Volcker Rule prohibits banking entities from doing, it does permit a number of activities. It is also a challenge to the status quo, which may highlight merger and acquisition (M&A) opportunities in the financial services industry. This episode of Deloitte Insights notes restrictions and opportunities associated with the Volcker Rule. |
| USA | Top Ten Issues for Insurance M&A in 2012: Continuing challenges, potential opportunities This paper from Deloitte US discusses the potential impact of issues including economic and regulatory uncertainty, valuations, alternative use of capital and emerging markets, on insurance industry M&A activity. |
| USA | Trends in Risk Oversight: What Board Directors Should Know (Video) Today’s boards are struggling with how to define and fulfill their governance roles in light of changing regulations. Watch this video discussion of emerging trends in risk oversight. |
| UK | Insurance Market Update: February issue - life insurers (Newsletter) The emergence of corporate platforms |
| January 2012 | |
| Australia | JP Morgan/Deloitte 2011 General Insurance Survey: A tough year for insurers - with strong improvement forecast for 2012 The 19th edition of this survey provides a detailed overview of the current state of the Australian general insurance industry and the industry’s expectations. It conveys analyses on the key elements of the industry from the perspective of direct underwriters, reinsurers and brokers. |
| Australia | Personal Property Securities Act: Implications for practitioners The Personal Property Securities Act (PPSA), which took effect 30 January 2012, appears to contain some “grey” areas and uncertainties which will inevitably result in differing opinions in the interpretation of the legislation. Such differing views will need to be resolved by litigation adding to the costs associated with the process. |
| Canada | Dialing in: The future of mobile payments in Canada This paper provides insights on the evolution of mobile payments within Canada, potential operating models, and considerations for how financial institutions and other stakeholders can assess their business needs and develop a sustainable business model to meet an increased demand for mobile payments. |
| Canada | Dialing in: Convergence, collaboration and customer data – the changing face of Canada’s mobile payments market This report provides strategic insights on the implications of the changing payments ecosystem for each key stakeholder and takes a deeper dive into some of the predictions for the future of the mobile payments industry in Canada. |
| UK | Regulatory topics for 2012 At the start of 2012, with the global and eurozone financial crises still far from over, we have set out our view of twelve key regulatory and supervisory topics for the year ahead. We have approached this from a UK perspective, noting relevant global and EU angles where appropriate. |
| USA | 2012 Global Insurance Outlook: Generating growth in a challenging economy takes operational excellence and innovation To succeed in these difficult times, insurers will need to come up with creative strategies to generate growth, achieve operational excellence and drive innovation. While this might be easier said than done, opportunities are available for insurers that can seize the moment. |
| USA | Commercial Real Estate Outlook: Top Ten Issues in 2012 This report, the thirteenth in Deloitte’s series on critical issues impacting real estate, takes a closer look at U.S. market trends and developments, with a focus on the outlook for recovery. |
| USA | Extraordinary Times for the Insurance Industry: Addressing current business trends and tax implications This report discusses the seven key trends that may have important implications for insurance tax departments in 2012. The way in which each insurance company addresses these trends may impact the success, and in some cases the survival, of the enterprise. The corporate tax function can play a critical role in addressing tax implications. |
| USA | Tech Trends 2012: Elevate IT for digital business As mobility, social business, cloud computing, and analytics evolve, each may represent a significant opportunity to transform enterprises, markets, and industries. It’s an uncommon, and perhaps unique, time to have so many rapidly evolving, technology-centric forces emerging. As adoption patterns accelerate and these forces mature and integrate, many believe it will mark the dawn of the postdigital era. |
| USA | The Risk Committee Resource Guide for Boards This guide is designed to help organizations develop and strengthen their risk committees, and can also help boards improve risk governance and oversight even if there are no plans to establish a formal risk committee. It includes tools and resources that explore topics such as when to form a risk committee; its charter, composition, and responsibilities; and education and evaluation. |
| Global | Performance: Issue 7 (Newsletter) Fund analytics; The rise of collectible assets; GIPS; Corporate governance in investment funds; Brazilian investment funds; Wealth management trends; Swing pricing and fair cost allocation in distressed financial markets; New tax rules for Italy and offshore jurisdictions; Managing risks under UCITS IV; IASB and FASB Issue Exposure Drafts (ED) on investment entities; MiFID inducements |
| UK | Insurance Market Update: January issue - non-life insurers (Newsletter) The claims value chain in the motor market arising from the banning of referral fees and the introduction of Alternative Business Structures; The state of the domestic household market |
| UK | Investment Management Regulatory Update: Q4 2011 issue (Newsletter) |
| USA | CFO Signals: 2011 Q4 Results (Newsletter) European financial woes take toll on near-term CFO expectations |
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