EU urged to recognise different op risk profiles of investment firms

Howard Davies, chairman of the UK's Financial Services Authority (FSA), said the EU should avoid a simple extrapolation of the proposed Basel II bank capital adequacy rules to investment firms.

He added it may be necessary to consider a further breakdown of the business lines proposed for measuring operational risk in Basel II in order to allow for a more risk-sensitive operational risk charge based on different scaling factors for different categories of business.

Basel II will determine how

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