Bank losses are boosting the profile of legal risk


NEW YORK -- Faced with an increasingly litigious business environment, financial institutions are finding that mitigating legal risk increasingly requires more than their general counsels’ attention. Banks are posting considerable fourth-quarter charges as they settle allegations on a broad swathe of issues, including research analyst independence and other conflicts of interest, initial public offerings allocations to officers and directors, and credit exposures related to the collapse of Enron

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