Regulators urged to enhance op risk oversight post September 11


NEW YORK -- Financial regulators must enhance their monitoring of individual firms and the linkages between them after the September 11 attacks in New York showed the vulnerability of the financial system to op risks.

That was the verdict of management consultants McKinsey & Company in a November report on the impact on New York’s financial services of the attacks.

McKinsey, acknowledging regulators re- examining their policies, said agencies must ensure firms’ business recovery plans take account

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