UK’s FSA reforms ORIAG as ORSG

The UK’s Financial Services Authority (FSA) has reformed its Operational Risk Implementation Advisory Group (ORIAG) as the Operational Risk Standing Group (ORSG), after deciding to disband ORIAG in the fourth quarter of 2003. The group is being chaired by Colin Tattersall, who is policy head of operational risk at the FSA.

ORIAG produced a well-regarded paper on operational risk in January 2003, butmet only sporadically afterwards, with the last formal meeting minutes postedfor July 2003.

According to sources, there was disagreement over what tasks an industry consultation group should now take on. The FSA has decided that the ORSG will focus its energies on "issues regarding the practical implementation and monitoring of compliance with operational risk policy," as outlined in the Prudential sourcebook and in

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here