BRACKEN

摘要

Imagine there's a knock at the front door. "Good morning," says the seemingly mild-mannered regulator you were introduced to in April 2013. "I just have a couple of questions about your conduct risk agenda," the regulator continues. "Have you identified and measured your emerging conduct risks by business area? Do you have a holistic approach focusing on client and market outcomes? Have you at least started designing a framework with all three lines of defence engaged and with clear roles, sponsorship, milestones and timelines?" You panic slightly as you realise that you have no precise notion of what is expected of your firm with regards to conduct risk, a regulatory topic that has somewhat taken a backseat to others.