SEC raises eyebrows over BIA and AMA


Matthew Comstock, a branch chief in the division of market regulation at the SEC, raised eyebrows at the OpRiskUSA conference in New York when he indicated that large broker-dealers such as Bear Stearns, Morgan Stanley, Merrill Lynch, Goldman Sachs and Lehman Brothers would be on the simplest of approaches for op risk. "I’m not sure it’s a lighter touch," he said, defending the plans. "Ultimately we are following Basel II and firms will move to the AMA. I am sure we will look to the Fed rules in

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