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| | Risk - Wikipedia, the free encyclopedia |
 | | In financial markets one may need to measure credit risk, information timing and source risk, probability model risk, and legal risk if there are regulatory or civil actions taken as a result of some "investor's regret". | | | Risk in finance has no one definition, but some theorists, notably Ron Dembo, have defined quite general methods to assess risk as an expected after-the-fact level of regret. | | | One effective way to solve framing problems in risk assessment or measurement (although some argue that risk cannot be measured, only assessed) is to ensure that scenarios, as a strict rule, must include unpopular and perhaps unbelievable (to the group) high-impact low-probability "threat" and/or "vision" events. |
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http://en.wikipedia.org/wiki/Risk
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| | Volunteer Legal Handbook - Risk Management |
| | Risk management is the name for a collection of techniques and procedures a nonprofit corporation can use to minimize the risk of liability and, in the event of a problem, to minimize the consequences of the problem. | | | Risk management is not going to solve all legal problems, but it will help anticipate and avoid many claims, and provide a defense and the costs of defense in most claims that do arise. | | | The best-known contractual provision for allocating risk is the release. |
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http://www.iciclesoftware.com/VLH7/VLH7RiskManagement.html
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| | Property (ownership right) - Wikipedia, the free encyclopedia |
| | Legal fictions, such as corporations, trusts, religions (or their gods), and nations (or governments) own property in various societies past and present. | | | For example, as a lessee of a particular piece of property, you may not sell the property, because the tenant is only in possession, and does not have title to transfer. | | | According to Adam Smith, the expectation of profit from "improving one's stock of capital" rests on private property rights, and the belief that property rights encourage the property holders to develop the property, generate wealth, and efficiently allocate resources based on the operation of the market is central to capitalism. |
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http://en.wikipedia.org/wiki/Property
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| | Legal tender - Wikipedia, the free encyclopedia |
| | Legal tender or forced tender is payment that cannot be refused in settlement of a debt by virtue of law. | | | Cheques, credit cards, debit cards and similar non-currency methods of payment are not generally defined as legal tender. | | | These debentures were circulated but were traded at a discount to their face value because of distrust of the colonial government by the settler population. |
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http://en.wikipedia.org/wiki/Legal_tender
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| | Risk magazine - Legal risk optimisation |
| | The costs of legal risk are the costs of avoiding litigation and those actually incurred in litigation. | | | As legal risk comes to be viewed in a quantitative paradigm, just as any firms credit risk manager can assign a credit risk rating for any counterparty, the firms legal risk manager will be able to state a similar numeric for the legal risk rating of the firms derivatives. | | | Paralleling what is done in most commercial banks in assigning each counterparty an internal credit risk rating, generally between the numbers of one and five, a rating could be assigned to each one of the variables in the legal risk model regression, with one being the lowest risk and five being the highest risk. |
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http://db.riskwaters.com/public/showPage.html?page=6677
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| | Legal (Compliance) Risk |
| | Legal risk can result from a financial institution’s failure to comply with the bylaws and contractual agreements established with the bankcard associations, clearinghouses, and other counter-parties with which it participates in processing, clearing, and settling retail payment transactions. | | | Legal disputes that delay or prevent the resolution of payment settlement can cause credit, liquidity, or reputation risks at individual institutions. | | | Such legal problems are more likely to result from the failure of a financial institution than the default of an individual payer. |
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http://www.occ.treas.gov/efiles/disk2/booklets/Retail/retail_03e.html
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| | YNHH Risk Management Handbook-Risk Management |
| | Risk financing also involves the effective negotiation and use of indemnity provisions in hospital contracts to transfer liability risks to other parties whenever possible. | | | The Office of Legal Affairs is responsible for managing and investigating the professional and general liability claims that are made against the medical center facilities, its employees and insured physicians. | | | The third component is risk financing, which involves the mechanisms utilized to ensure that there are adequate financial resources available to cover any potential liability situations, and includes the procurement of adequate liability insurance coverage at reasonable premiums to cover such losses. |
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http://www.info.med.yale.edu/caim/risk/handbook/rmh_risk_management.html
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| | Talk:Legal tender - Wikipedia, the free encyclopedia |
| | I've misunderstood my sources; it is not that legal tender does not exist at all, it is just that reasonable settlements must be accepted as well. | | | There is a concept of legal tender in Scotland. | | | Legal tender laws were originally known as "Forced Tender". |
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http://en.wikipedia.org/wiki/Talk:Legal_tender
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| | Urban Legends Reference Pages: Business (Penny Whys) |
| | I can't recall how many times he solemnly intoned that "Pennies are not legal tender in quantities greater than 100" and therefore merchants were "legally" allowed to refuse any offer of payment that included more than one hundred one-cent coins (and, presumably, could not "legally" refuse payment offered in any other form of legal tender). | | | However, legal tender is the default method of payment assumed in contractual agreements involving payments for goods or services unless otherwise specified. | | | United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues. |
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http://www.snopes.com/business/money/pennies.asp
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| | Bank Director's Training Financial Report |
| | This is an example of legal risk - the risk that unenforceable contracts, lawsuits or adverse judgments could harm the bank. | | | Liquidity risk is the risk the bank will not be able to obtain the funds it needs to conduct its business at a reasonable cost. | | | This is an example of credit risk – the risk the bank will not receive its principal and interest or experience some loss on the loans that it makes. |
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http://www.stlouisfed.org/col/director/financialreport/joinmeeting_practice.htm
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| | Wilmott Forums - Enterprise Risk |
| | Legal is usually managed by a lawyer, although contracting is often done by non-lawyer specialists. | | | The important distinction is between risk that we deliberately incur in order to make profit, which implies both that the risk can be modeled and that it is an inherent byproduct of a profitable activity, and risk that results from mistakes or sloppiness. | | | Risk minizimation should be handled by a head of Security, disaster mitigation should be the responsibility of a head of Insurance, both reporting to the Chief Operating Officer. |
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http://www.wilmott.com/messageview.cfm?catid=8&threadid=4821
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| | Counting The Cost of Legal Risk |
| | He does agree, however, that unexpected legal losses pose a particular problem for banks trying to measure their operational risk – simply because there is no data to allow the industry to judge how often it will face claims like those filed by Holocaust victims, or those stemming from regulatory investigations into analyst bias. | | | The natural result of the wide variety of legal claims and the large local variation in risk is a high degree of uncertainty about losses, the paper argues, noting that 21% of US banks were forced to make “material impact” disclosures during 2000 as a result of legal action. | | | A member of the Basle Committee Secretariat maintains that initial concerns that operational risks, including legal risk, were not susceptible to quantitative analysis have begun to melt away. |
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http://www.erisk.com/ResourceCenter/Operational/CountingTheCostofLegalRis.asp
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| | USDA/RMA--Introduction to Risk Management |
| | The first legal issue that many family farms encounter is the nature of the entity under which the business is to be operated. | | | The legal issues most commonly associated with agriculture fall into four broad categories: appropriate legal business structure and tax and estate planning, contractural arrangements, tort liability, and statutory compliance, including environmental issues. | | | Assuming a contract is legally enforceable, a concern arises as to nonperformance by a party to the contract. |
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http://www.rma.usda.gov/pubs/1997/irm_e.html
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| | Financial Risk Management |
| | Because risk is a fundamental element of business, it is important that managers properly assess and manage it. | | | A risk manager must deal with insurance, technological systems, regulatory and legal issues, political exposures, and both micro and macroeconomic fluctuations. | | | Glitto gives legal advice or opinion only with respect to particular facts and only after conflicts of interest have been cleared and/or waved and after being retained as counsel. |
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http://www.afn.org/~afn05451
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| | Carlsmith Ball LLP- Legal Articles: "Legal Risk Management Manual For Foreign Business Startups In The United States" |
| | The attorney should be asked to help the Foreign Parent establish a risk management budget, identify the most cost-effective risk reduction measures under the given budget constraints and allocate the risk management budget among the various measures. | | | Nevertheless, much of the risk can be neutralized, even for a Foreign Parent operating on a very limited risk management budget. | | | The mere possibility that a claim may be covered by the policy obligates the insurer to undertake the insured's defense, and the insurer must bear all the costs of the defense even if it is ultimately determined that the claim, in fact, was not covered by the insurance policy. |
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http://www.carlsmith.com/art_legalrisk.htm
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| | Managing Legal Risk in the Citrus Industry |
| | Another way to think of legal risk is to think in terms of liability. | | | When speaking of liability that may arise from your business operations, personal exposure to the liability and risk depends upon the legal entity under which your business operates. | | | Managing risk in the area of torts is very tricky because what you consider reasonable conduct, your neighbor or employee may not. |
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http://edis.ifas.ufl.edu/BODY_FE201
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| | Legal Risk Management Manual |
| | It is now recognized that managing legal risk should be and become an integral part of the boardroom agenda and the companys overall risk management strategy identifying, measuring and managing risks, monitoring the adopted strategy and minimizing future legal risk, especially through employee education and awareness. | | | Of particular relevance is the view that the legal audit is a preventive maintenance tool that assists a business in reducing actual losses from legal liability exposure. | | | Competition Compliance has to be a part of any legal risk management strategy after all, for any company with ambitious plans to grow and globalize, competition laws (in the form of control of anti-competitive, restrictive or monopolistic practices and dominant undertakings) present major challenges. |
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http://www.globallawreview.com/legrismanman.html
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| | Legal Risk - 13 September 2004 |
| | Legal Risk may be based in Liverpool, but much of the work is London-focused and it is pitched as a national practice. | | | Legal Risk specialises in money laundering regulations, compliance and professional indemnity, particularly in terms of successor practices (eg Garratts in the case of Andersen Legal). | | | Legal Risk has also recently launched an automated web-based diagnostic tool to help cut other firms costs, as well as a manual on money laundering. |
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http://www.thelawyer.com/cgi-bin/item.cgi?id=111910
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| | Operational Risk |
| | The committee indicates that this definition excludes systemic risk, legal risk and reputational risk. | | | During the 1990s, financial firms and other corporations focused increasing attention on the emerging field of financial risk management. | | | legal risk Risk from uncertainty due to legal actions or uncertainty in the applicability or interpretation of contracts, laws or regulations. |
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http://www.riskglossary.com/articles/operational_risk.htm
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| | Legal Risk |
| | Legal risk is the risk of loss from a contract that cannot be legally enforced. | | | Legal capacity, another element of legal risk that affects OTC derivatives, is defined as the legal authority to enter into a transaction. | | | Sources of legal risk include capacity and enforceability issues, as well as the legality of financial instruments and exposure to unanticipated changes in laws and regulations. |
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http://forbin.mit.edu/FinancialRisk/LegalRisk.jsp
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| | ComLinks Y2K Archives - Legal Risk Management |
| | Managing the legal risks and maintaining the procuring coverage appropriate for the dual role of user and vendor is a daunting task. | | | To avoid personal liability, directors and officers are required to meet the applicable legal standard of care in taking the actions necessary to fix the problem in the company's own systems without business disruption. | | | And those estimates exclude the inevitable transaction costs of attempting to shift liability for the "fix" through claims and legal proceedings, as well as the costs of failure resulting in business disruption and third party liability claims -- cost that could easily dwarf $400 to $600 billion. |
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http://www.comlinks.com/legal/tmjb8.htm
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| | Legal/Reputational Risk - Banking Information, Federal Reserve Bank of Chicago |
| | Reputational risk is the potential that negative publicity regarding an institution's business practices, whether true or not, will cause a decline in the customer base, costly litigation, or revenue reductions. | | | Banks are subject to numerous legal requirements in this area, including the Bank Secrecy Act, Office of Foreign Assets Control (OFAC) regulations, and the USA PATRIOT Act of 2001. | | | Legal risk arises from the potential that unenforceable contracts, lawsuits, or adverse judgements can disrupt or otherwise negatively affect the operations or condition of a banking organization. |
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http://www.chicagofed.org/banking_information/legal_reputational_risk.cfm
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| | Legal Risk : Risk Management Solicitors |
| | Legal 500 for defendant professional negligence- with particular expertise in professional indemnity insurance, risk management and money laundering compliance. | | | Interview on Radio 4's You and Yours with Legal Risk partner Frank Maher on 14 September 2005 on managing block notifications to insurers pre renewal - see News and Events page. | | | Definition of operational risk: "The risk of loss resulting from inadequate or failed internal processes, people and systems or from external events." (Basel Committee on Banking Supervision). |
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http://www.legalrisk.co.uk
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| | MCCCD Legal Services Department - Risk Management & Insurance |
| | The Risk Management Division's mission is to reduce the exposure to fortuitous loss to the District, its employees, students, and visitors, to the greatest extent possible and to eliminate the unanticipated financial impact of losses. | | | Risk Management procures and manages the District's property and casualty insurance program and responds and handles notices of claims received by the District. | | | We do this by being a resource to the District in the areas of general risk management (risk identification, risk control, and risk financing), loss prevention and control, claims, insurance, and contractual transfer. |
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http://www.maricopa.edu/legal/rmi
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| | Minnesota State Archives Department |
| | Legal risk analysis is an important undertaking because there is constant tension between your limited resources and your mandate to responsibly manage the government records. | | | this tool will assist you in analyzing your agency's or department's legal risk in the area of government records management. | | | The most current versions of the Legal Risk Analysis Tool and the Handbook are available online at: http://www.mnhs.org/preserve/records/index.html |
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http://www.mnhs.org/preserve/records/tis/Legalrisk.html
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| | Draft offers legal help for property disputes |
| | Currently, the major property issue in the country is the contradiction among house owners, preperty service providers and real estate developers. | | | "The major property issue in Beijing is the contradiction among house owners, property service providers and real estate developers," Zhu Xiangyuan, an NPC Standing Committee member said in panel discussion during the week-long meeting. | | | The draft property law is expected to provide legal basis to solve property-related disputes. |
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http://www.chinadaily.com.cn/english/doc/2005-07/01/content_456493.htm
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| | Gold standard - Wikipedia, the free encyclopedia |
| | The US Treasury was put on a strict hard money standard, doing business only in gold or silver coin as part of the Independent Treasury Act of 1848, which legally separated the accounts of the Federal Government from the banking system. | | | However, more generally accepted is that a full gold standard requires that there be one source of notes and legal tender, and that this source is backed by convertibility to gold. | | | Gold and silver coins were legal tender, including the Spanish real, a silver coin struck in the Western Hemisphere. |
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http://en.wikipedia.org/wiki/Gold_Standard
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| | International Bar Association |
| | The principal risks that can be properly be described as legal risk (in contrast, for example, with counterparty risk and political risk) in the context of financial transactions and the carrying on of commercial and investment banking business; | | | The most practical and efficient means of recognising situations which are likely to involve legal risk in wholesale and retail financial markets; | | | Legal risk as part of general financial business strategy; |
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http://www.ibanet.org/legalpractice/IBA_Working_Party_on_Legal_Risk_.cfm
(542 words)
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| | Legal Property Business and Economy United Kingdom Europe Regional |
| | In some jurisdictions, if the use is not hostile but given actual or implied consent by the legal property owner, the prescriptive easement may become an... | | | - Property advice from acquisition to disposal, preparing and approving leases for property owners and end users particularly in relation to industrial, office and retail properties. | | | Legal Property Business and Economy United Kingdom Europe Regional |
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http://www.iaswww.com/ODP/Regional/Europe/United_Kingdom/Business_and_Economy/Property/Legal
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| | Managing the Changing Dynamics of Legal Risk and Ministry |
| | Generally, the goal of a speculative risk is profit, although not all speculative risks are financial. | | | The purpose of risk management is to reduce and, to the extent possible, eliminate pure risks from ministry. | | | The principal focus of risk management at the congregational level is on pure risks. |
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http://enrichmentjournal.ag.org/200401/200401_54_dynamics.cfm
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