“No technology is going to replace the inquisitiveness of the regulator”
Mike Bodson, CEO at DTCC, discussing new threats facing the financial system at Sibos 2013, feels that while the global financial community is in a safer environment today, it can ill afford complacency.
As financial institutions struggle to implement reforms aimed at avoiding a repeat of the last financial crisis, it is perhaps dispiriting to discover that they’ll also have to consider the existence and emergence of new, unknown threats, moving forwards. However, that is the reality of today, and one which FIs must quickly ready themselves for, as gaps in protecting against such threats continue to surface, said Mike Bodson, CEO of US post-trade services provider Depository Trust & Clearing Corporation (DTCC) at Sibos 2013.
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Categories: Operational Risk
, Risk and Regulation
Keywords: Sibos 2013
, Mike Bodson
, Systemic Risk
, Market Risk