Great expectations

Risk-based regulation

Risk-based regulation has been the top mantra, both for UK financial firms and their regulator in the recent past. The term 'risk-based approach' has been used to describe, very simply, the age-old conundrum - how does one prioritise scarce resources against the myriad of deliverables requiring regulatory attention? Risk-based regulation enabled financial regulators to assign these resources (including skilled staff) to big-ticket items, primarily based on how risky they assessed a particular fi

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