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Dear member, 

It looks like the Europeans are ready to fix their problems as José Manuel Barroso, president of the European Commission, outlined this week the broad terms of a mandatory recapitalisation for Europe’s major banks, requiring “a temporarily higher capital ratio”, with restrictions on dividends and banker bonus payments.
We don't know much about the details of this plan but Credit Default Swaps rates indicated that investors became less worried. The European banks still need to adjust to new Basel III capital rules as well as work on liquidity buffers because of massive short term re-funding needs within next couple of years.

(Our partners from Kesdee prepared a new e-training for you:Basel III - Liquidity Risk Management (Library of 5 courses)  which will help you  understand these complex issues. Go ahead, browse the trainings offerings and book the ones you are interested. The course description is here.)
But the question remains will the higher capital solve the problem of souvereign default. No bank can hold enough capital if a country such as Italy or Spain decides to default.
There are some dangers ahead as European Union can show some less unity where solutions such as more austerity and capital can slow the economic growth.

By the way if you got a frog for a picture, hurry up and replace it! 
MESSAGES FROM OUR PARTNERS -

RMIA is proud to offer all GRC members the members discounted rate!

www.rmiaconference.com

20-22 November 2011
Crown Towers, Melbourne

Strong line up for Chief Risk Officer Forum

Delegates will get a rare insight into what keeps chief risk officers awake at night on Tuesday, 22 November’s morning session. Moderator Greg d’Arville will tease out frank admissions from the panel on cutting-edge concepts like the new risk classifications of ‘simple’, ‘complex’ and ‘wicked’ and building resilience as an asset.
In the hot seat are:

  • Jason Brown, Chief Risk Officer, QBE Australia
  • Rob Maurich, Chief Risk Officer, CBH Group
  • Geoffrey Copp, Head of Risk Management & Compliance, Zurich Australia
  • Caroline James, Principal Adviser – Group Risk, Rio Tinto

What do you want to hear from the CRO's? Share your topics for the panel: email greg@crge.com.au or use Twitter - @crgessentials
  
Risk management - who is responsible anyway?

As the risk environment has evolved, so too have the structures and roles with oversight of and responsibility for risk management.

Supported by Marsh, the business breakfast briefing on Monday, 21 November, will see business leaders share their perspectives on how the interaction between executive teams, boards, audit and risk committees and the risk management function has changed within Australian organisations.

In the interactive session, a CFO, a CRO and a non-executive director will debate and discuss:
• the chain of responsibility for risk management and oversight;
• the role and structure of audit and risk committees;
• what boards and committees need and expect from the risk management function; and
• whether organisations have struck the right balance between focusing on financial, strategic and operational risks.

To view the full program visit www.rmiaconference.com

____________________________________________________________________
February 7-9, 2012

Philadelphia, PA

http://www.marcusevansch.com/LSIA_GRC

The Life Sciences Internal Audit Forum will be a two-day, industry focused event, specific to those within Internal Audit, Corporate Audit and Audit Compliance.

Why Should You Attend?
This conference will bring together the leading senior executives from Johnson & Johnson, Boston
Scientific Corporation, Biomet Inc., GlaxoSmithKline, Cephalon and many more to discuss best
practices on conducting internal audits including operations audits, clinical trial audits, third party audits
and GRC audits for FCPA, Dodd-Frank and SOX.

Attendees will leave the conference with a much stronger understanding of how to approach internal
auditing compliance to increase effectiveness while decreasing cost and time.

______________________________________________________________________

22nd Edition: SOX Compliance & Evolution to GRC Conference
November 15-16, 2011
Chicago, IL
http://www.marcusevansch.com/SOX_GRC

This conference will bring together leading SOX and Compliance practitioners to review the required blend of compliance and risk-based strategies, as well as methodologies necessary, to meet federal mandates while developing greater efficiency across their GRC footprint.

Attending This Premiere Conference Will Enable You to:

• Hear from the SEC and PCAOB on SOX Compliance and Recent Court Rulings
• Achieve greater efficiency through the deployment of a risk-based approach
• Explore how the Dodd Frank Act has made SOX more strict and clever
• Ensure that SOX is a continuous process rather than an annual compliance exercise
• Identify the right tools for your SOX compliance efforts

For more information or to receive a discounted rate, please contact Michele Westergaard atMichelew@marcusevansch.com


COMING SOON:

-Additional premium Services - for people who are serious about both their professional networking and carrer.
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Have a great weekend and give us your feedback on what would you like to see on GlobalRisk Community.
 Thank you for being here.

Boris Agranovich,

Founder @ GlobalRisk Community