Banks urge Cebs to rethink operational risk guidelines


LONDON – Banks are urging the Committee of European Banking Supervisors (Cebs) to reconsider its proposed guidelines (CP35) on operational risk in market-related activities, expressing strong concern the text is too prescriptive and detailed.

“Although dressed up as an operational risk document, it is in fact a control framework that contains a number of principles and detailed guidance relevant to our day-to-day activities under a whole range of areas, from front office through to human

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