FSA fairly confident of ‘sensible’ op risk charge for investment firms

Many UK investment firms, including asset managers and stock brokers, fear they could be heavily penalised from late 2006 by having to set aside costly amounts of capital to guard against the risk of losses from such hazards as fraud, technology failure and trade settlement errors.

Investment industry executives believe their firms have a much lower exposure to operational risks than the banks for which the new rules were initially designed.

The rules would be part of the European Commissio

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