Goldman’s mortgage mis-selling fine tops 2016 op risk losses

Legal settlements with US regulators dominate the year's biggest operational risk charges

RMBS-related settlements were a prime source of op risk losses in 2016

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The rash of high-profile settlements with US authorities that dominated 2016's largest operational risk losses show an industry in the final throes of settling claims for crisis-era mis-selling that have dogged it for many years – and which, dealers hope, represent a chance to put the past behind them, as a regime change beckons.

All but two of the losses involved settlements with various branches of the US government, with the familiar spectre of residential mortgage-

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