Conduct risk definition a challenge, says OCC

US regulators discuss conduct and culture

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Conduct risk is a popular topic of conversation among op risk executives, which is hardly surprising given the constant stream of fines, censures and general uncovering of malfeasance in the financial sector over the past six years. 2013 alone saw JP Morgan pay in excess of $14.8 billion in fines for various conduct-related issues, from the London Whale incident to the mis-selling of residential mortgage-backed securities in the US. 2012 saw HSBC pay US authorities $1.9 billion in fines relat