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Committee of European Banking Supervisors Statement: CEBS has published today its guidelines on the management of operational risk in market-related activities

( October 12, 2010, 13:33 GMT | Official Statement) -- MLex Summary: Banks must set and enforce limits on the value that each trader can buy and sell, with voice recording of transactions and built-in warning systems for policy breaches, European Union regulators said in guidelines on tightening safeguards against rogue trading and other risks. Banks need not have systems for 'push-button' audits, the panel said in response to industry complaints about draft measures, as long as they can produce a full audit trail "on demand or within an acceptable period of time." The regulators have set back the effective date from the end of this year to mid-2011.The Committee of European Banking Supervisors (CEBS) has published today its guidelines on the management of operational risk in market-related activities....

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