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UK regulators demand updates on banks’ risk management after Archegos collapse
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fnlondon.comUK banking regulators are requiring lenders to update them on their risk management plans after the collapse of Archegos earlier this year.
The Bank of England, Financial Conduct Authority and Prudential Regulation Authority published an open letter to banks demanding that they report back by the end of the first quarter, and even suggested that the bonuses of senior executives be tied to these reports to ensure improvements are made.
“It...
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