Size and complexity leave firms little reaction time, says US regulator

NEW YORK -- The size and complexity of modern firms create significant market risk exposures that give management little time to react after serious breaches in internal controls become known, a senior US central banker said in October.

"Reputation risk, especially in a trust business such as banking, can lead to loss of liquidity, cancellation of major new contracts and indictments, which bring the ultimate corporate loss: failure of the firm," said US Federal Reserve Board governor Susan Bies.

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