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Investment banks to implement new risk management procedures

Leading investment banks are considering bringing in new risk management procedures following the failure of their existing systems to predict losses last year according to the Financial Times.

The report based on a survey of 70 banks conducted by accountants Deloitte & Touche found 24 per cent of those questioned planned to add an &#39extreme value theory&#39 to their existing techniques.

The theory aims to analyse the clusters of events which cause volatility, it is used in addition to standard procedures which use statistical to evaluate events.

At the time the survey was conducted Deloitte Touche says only 5 per cent of the banks were using the method.


Norwich Union Healthcare sets up IFA support team

Norwich Union Healthcare has set up a dedicated support team to backup IFA sales of private medical insurance.The Healthcare Bureau is NU&#39s response to IFA calls for a centralised unit for information and advice on PMI sales.The Sheffield based team will be backed by NU&#39s development consultants around the country.Its development manager Brian Gilfillan says: […]

Norwich Union produces explanatory Isa video

Norwich Union is aiming to tackle consumer ignorance over Isas by producing a free explanatory video.The free video entitled &#34The Isa Age&#39 will attempt to provide a set-by-step guide to Isa investment options and charges.NU Investment Funds director of sales and marketing Mark Skinner says: &#34The lack of understanding is highly alarming, investors are being […]

PIA suspends Kent IFA

The PIA has suspended Kent IFA Chartertrack Financial Services from conducting investment business.The firm based at Bank Chambers, 8 The Parade, Staplehurst, Kent has been suspended because it appears to the PIA that the firm may not be fit and proper as it is unable to comply with the PIA&#39s financial resource requirement.

Axa Sun Life launches global distribution fund

Axa Sun Life is adding a global distribution fund to its existing range.The fund will be available as an Oeic, Isa, life and pension fund. It will consist of both income and accumulation units.To mark the launch Axa Sun Life is offering investors in the life and pension versions of the fund an additional 1 […]


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