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Other risks [4]

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Bullet points include: What is ‘strategic’ may depend on perspective. 'Strategic' risk for regulators themselves arguably includes macro-prudential angles and/or handling of ‘systemically important’ financial institutions. Definition can include risks relating to the wider environment in which the firm operates. E.g. unexpectedly strong competition, change in regulatory or tax framework rendering business model unviable. One ‘art’ of good strategic business management is spotting emerging trends before the competition, e.g. Apple versus Nokia

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