FSA releases operational risk feedback

Feedback from 50 financial institutions, including Citigroup, JP Morgan and Lloyds TSB, was released yesterday and showed that most companies believe the operational risk policy laid out in the consultation paper is appropriate.

However, the FSA said some respondents, including the FSA Small Business Practitioner Panel, were concerned that supervisory staff would apply guidance as if it were rules. But the FSA reassured members that it was “committed to providing fair and consistent

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