Cebs issues finalised guidelines on op risk in market activities

Cebs op risk guidance finally finds favour

The Committee of European Banking Supervisors (Cebs) has published the final version of its guidance paper on operational risk in market-related activities (CP35). The paper is a “useful” document, but one that must be treated as a “starting point”, says one operational risk manager.

Sam Lee, head of operational risk in Europe at Royal Bank of Canada, says the Cebs paper “leaves wiggle room” for domestic regulators to go further in defining conditions, citing actions by the UK regulators. “The