Banks must re-examine their risk appetites in light of global regulatory shifts
Ronald Gould, former senior advisor to FSA UK, feels that banks now face a far more complex operational environment where the costs of getting it wrong have risen dramatically.
There are concerns about extra-territorial laws that many in the banking industry face in a growing number of areas and in a variety of different ways. There is nothing new about this—powerful countries have often imposed their will on others by arbitrarily extending the application of their laws to different jurisdictions.
The financial crisis exposed the areas in which risk had been allowed to build to unacceptable levels. As a result, post-crisis efforts have been directed toward fixing these flaws. The G-20 countries have agreed to arrangements that allow financial risk to be managed…
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Categories: Capital & Strategic Issues
, Risk and Regulation
Keywords: Ronald Gould
, Dodd-Frank Act
, MiIFID II