Conduct Risk and Financial Stability [26]

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Bullet points include: Subdivision into 3 key strands (and associated time-scales for regulatory change) seems as true of conduct risk as any other regulatory risk category. Systemic risk: Short and medium term. Interconnectivity and substitutability: Medium term. A focus on societal ‘fairness’: Short, medium and long term, but maybe the long term will be a long time coming. Regulators increasingly view market participants as similar. And increasingly all capable of creating or at least transmitting systemic and conduct risk (with the definition of each of these risks then flexed to fit this view). Responding to these trends is likely to require improvements in: Culture, an obvious regulatory intervention area, Transparency, likely to create a significant IT burden

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