Bankers in Asia have looked from afar as US and European institutions suffered punitive fines for conduct failings and, consequently, big increases in their operational risk capital. Any sense of complacency in Hong Kong, Singapore or Sydney is fast diminishing, though, as local regulators issue greater penalties for malpractice and enforce new codes of conduct.
Influenced by the UK’s Senior Managers Regime, Australia is due to impose an accountability code known as BEAR, which clarifies the
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