FSA’s Op Risk Data Focus Requires New Control Level

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The UK’s Financial Services Authority’s (FSA) efforts to set a new framework for operational risk will force firms to improve control of their data processes and practices, according to speakers at an Asset Control and JWG organized seminar held in London in March.

Speakers said the FSA guidance note Enhancing frameworks in the standardised approach to operational risk, issued in March, has served as a catalyst to make data management part of the operational risk agenda.

London-based PJ Di Giamm