Carney: conduct risk failings could spark capital add-ons

Senior Managers Regime is helping BoE identify cultural weaknesses at individual firms, says governor

Mark Carney 2017
Mark Carney: no specifics on how an op risk capital add-on would be applied

Tough new conduct risk rules are making it easier for UK regulators to spot evidence of cultural failings at banks, with repeat offenders likely to see their operational risk capital requirements hiked, the governor of the Bank of England, Mark Carney, has warned.

The Senior Managers Regime – which came into force for banks and prudentially regulated firms last year, and which is due to be expanded to include virtually all firms regulated by the Financial Conduct Authority next year – requires

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: