FSA releases operational risk feedback
London - The Financial Services Authority (FSA) should continue issuing operational risk guidance rather than rules, according to the majority of respondents to the UK regulator’s July 2002 consultation paper on operational risk.
However, the FSA said some respondents, including the FSA Small Business Practitioner Panel, were concerned that supervisory staff would apply guidance as if it were rules. But the FSA reassured members that it was “committed to providing fair and consistent
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