Chinese banks improve risk management

China Banking Regulatory Commission (CBRC) has urged Chinese banks to strengthen their risk management practices and adhere to regulatory requirements, reports Banking Business Review.

Soaring loans have sparked fears of increasing default risks at banks and asset bubbles in the capital market in China.

Liu Mingkang, chairman of CBRC, says: "The ongoing global financial crisis has triggered a worldwide reflection on overhauling the financial supervision system, which includes revising and improving rules on capital adequacy, provision, leverage ratio, liquidity, as well as corporate governance and compensation system.”

Tata Communications is set to target the growing cloud services market in India, says CIOL News.

Tata Communications has partnered with NetApp to strengthen its presence as a cloud services provider and, along with large enterprises, it sees SMEs as potential users of cloud services.

The company claims to have India's only tier-III data centre with globally certified processes for data centre governance.

An explosion in usage of social networking sites has created a problem for brokerages, which must balance a potentially golden marketing opportunity against the watchful eye of regulators, states The Wall Street Journal.

Compliance professionals claim that brokerages adopt a policy prohibiting their employees from using social-networking sites, however, that strategy won't be practical for long, as Facebook, Twitter and other networks grow in popularity.

"With each of these new steps in technology, firms will have to try to figure out how to go forward," says Catherine Hanks, founder of Strategic Compliance and Governance, a consultancy in Bethesda.