ORIAG paper raises questions

LONDON

-- The Operational Risk Implementation Advisory Group (ORIAG), a task force formed by UK regulators, industry representatives and bank op risk managers to tackle implementation issues surrounding the Basel Accord’s new operational risk framework, released a working paper at the beginning of February.

Regulatory challenges

The paper, which is posted on the Financial Services Authority’s (FSA) website, raises many questions about how the FSA’s op risk framework -- which is based closely on

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