FSA consults on operational risk guidance: FSA is consulting on potential guidance on enhancing frameworks in the standardised approach (TSA) to operational risk. It appreciates it is difficult for firms and supervisors to assess whether their approaches are effective. The guidance focuses on:
- operational risk governance and risk management structures;
- identifying, managing, monitoring and reporting operational risk; and
- the use test for TSA.
FSA wants comments by 22 November.