Banks And Investment Firms: Not Peas In An Op Risk Pod

BASLE II UPDATE

The Basle Committee’s op risk proposals threaten to damage European investment firms, says Angela Knight. She calls for a broader review of the problems

Banking regulators drafting new capital adequacy rules for major banks should issue a general discussion paper on operational risk to meet the fears of investment managers, stockbroking firms and private banks in Europe. Such is the view of the London-based Association of Private Client Investment Managers and Stockbrokers (Apcims), which rep