Wednesday December 18 2013
News Source: Global Exchanges
Focus: Credit Rating
Type: General
Country: Hong Kong
Link: http://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=13PR125
Senior executives of global systemically important financial institutions (G-SIFIs) have shown a high degree of awareness regarding the importance of improving risk governance and risk culture following the 2008 global financial crisis, according to a report published by the Securities and Futures Commission (SFC).
The Report entitled “Risk-focused Industry Meeting Series: G-SIFI Trends in Risk and Risk Mitigation” follows a series of meetings conducted by the SFC’s Risk and Strategy unit (R&S) between March and August 2013 with senior executives of G-SIFIs.
During the meetings, the discussions focused on the evolution of risk and on measures for risk mitigation, against the backdrop of changing business models and market structure as well as product innovation.
Amongst other things, the Report highlights:
• Aspects of best practices adopted by G-SIFIs for the purpose of risk identification and risk mitigation; and
• Forward-looking themes to achieve continuous improvement by G-SIFIs in risk governance and risk culture.
Click on the above link for more details.