Early results from a survey conducted by Operational Risk & Regulation underline the need for operational risk managers to pay more attention to bank compensation schemes.
Poorly designed bonus plans for retail sales staff at UK banks Lloyds TSB and Bank of Scotland led to a £28,038,800 fine for the banks from the UK regulator, the Financial Conduct Authority – the largest fine ever imposed in the UK for retail misconduct. Lloyds, now de-merged from TSB, and Bank of Scotland are both part of Llo
The week on Risk.net, October 6-12, 2017Receive this by email
- Quantile, TriOptima face off in cleared swaps compression battle
- SGX, HKEX expect to be among first wave of Mifid II equivalence
- Leaked EU doc could shield legacy swaps from clearing grab
- ABS set for revival under US Treasury’s liquidity buffer plans
- Industry hails potential US relaxation of margin timing rules