Fed’s Bies focuses guns on enterprise-wide compliance
Implementation Outlook
Bies, who frequently speaks on the subject of corporate governance for the Federal Reserve, said that "comprehensive and robust management of legal and reputational risks is becoming more essential," and that there is a "need for financial services firms to develop enterprise-wide compliance programmes for legal and reputational risk management." She also repeatedly mentioned the enterprise-wide risk management framework that the Committee of Sponsoring Organisations of the Treadway Commission
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