With these guidelines, CEBS is now introducing more specific principles and implementation measures for the identification, assessment, control and monitoring of operational risk in market-related activities.
The Committee of European Banking Supervisors (CEBS) publishes its consultation paper (CP35) on its draft guidelines on the management of operational risk in market-related activities.
CEBS draft principles are divided into three different parts, addressing the management of operational risk in market-related activities from three different angles:
• Governance mechanisms - principles 1-5;
• Internal controls - principles 6-15; and
• Internal reporting systems - principles 16-17.
CEBS expects its members to have implemented the guidelines by December 2010. An implementation review will be undertaken by the CEBS secretariat in the first quarter of 2011.
Deadline for comments is 31 March 2010. Comments received will be published on CEBS’s website unless respondents request otherwise.
A public hearing will be held on 9 March 2010 at CEBS’s premises in London.
© CEBS - Committee of European Banking Supervisors
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