Sound Practices paper updated by Sigor

The Basel Committee on Banking Supervision's sub-group on operational risk (Sigor) has published the long awaited redrafted Sound Practice paper. The paper, Sound Practices for the Management and Supervision of Operational Risk, has been issued for consultation.

Sigor states that this updated version highlights the evolution of operational risk management since 2003 and is based on best industry practice and supervisory experience. The principles outlined in the report are discussed within the

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