UK banks blame FSA and EU as they fall behind in the compliance race

Cover Story

While there is little argument that UK banks are among the best prepared in the world for the operational risk portions of Basel II (the FSA began issuing draft guidance more than two years ago), critics argue that much of the momentum of the early days has been lost. Indeed, a recent study by consultants KPMG showed that "on a UK basis, there’s been quite a shift away from the advanced measurement approaches (AMA) to the standardised approach (STA)," says Jane Leach, a partner with the firm in

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