Big buy-side firms seek better model risk disclosures
Working group building standardised disclosure doc for managers and vendors
Large asset managers are banding together in a bid to make it easier for firms to garner important disclosures from vendors about the models they purchase.
In an effort spearheaded by the Garp Risk Institute, about 60 of the world’s largest investment firms have issued a set of standardised requests for vendors about the governance, data and testing that go into the models that are integral to their risk management. The document is designed to be broad enough to apply to market, credit and
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