Mixed reactions to PRA consultation on board duties
The PRA has published a consultation paper identifying the key responsibilities for boards. But the way in which the supervisor will audit firms on the expectations – including the alignment of risk management efforts to business strategy – remains unclear
Boards need to take more collective responsibility for their firms' strategy, risk appetite and ethical behaviour, the UK's Prudential Regulatory Authority (PRA) has said in a consultation document published on May 21.
But the draft paper on board governance has sparked criticism that its recommendations are too high level to be of practical use.
"If I were to be regulated on this, I would ask for
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