Types of operational risk loss by event, July 2008 to July 2010
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The total losses for July’s top five events more than doubled those of the preceding month, due to several large settlements under the ‘Clients, products and business practices’ category. These included two settlements with the US Securities and Exchange Commission over charges of misleading investors during the 2007 subprime mortgage crisis. As was also the case in June, the largest loss in July consisted of a settlement with state
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