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Assessing the regulatory impact: the challenges of UCITS III — Germany's regulators become the first to launch derivatives ordinance

KAI D. LEIFERT (Appointed Head of Risk Management Germany at Crédit Suisse Asset Management in 2001. Based in Frankfurt, he is responsible for controlling operational risks, as well as keeping track of risk limits for institutional investors' and mutual funds. Earning a degree in Economics at the University of Frankfurt in 1999, Leifert has continued to work with the professorship for mathematics and applied economics department, concentrating on risk management for asset managers and fuzzy logic theory. As regional director of the German chapter of the Global Association of Risk Professionals (GARP), Leifert also holds an FRM certification. He is an active member of the German Association of Asset Managers (BVI).)

Journal of Risk Finance

ISSN: 1526-5943

Article publication date: 1 March 2004

103

Abstract

Historically, risk management was understood as a pure risk reporting function that included the monitoring of restrictions and portfolio management activities. More detailed analysis of customer portfolios was not necessary, and never requested. Resources were allocated to gain more capital, so it was client relationship management that drove the business. In this context, risk management has been mainly regarded as a “necessary” cost factor.

Citation

LEIFERT, K.D. (2004), "Assessing the regulatory impact: the challenges of UCITS III — Germany's regulators become the first to launch derivatives ordinance", Journal of Risk Finance, Vol. 5 No. 3, pp. 7-9. https://doi.org/10.1108/eb022988

Publisher

:

Emerald Group Publishing Limited

Copyright © 2004, Emerald Group Publishing Limited

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