Basel III the biggest regulatory concern after Basel II, according to survey
The International Centre for Business Information (ICBI) has just released the results of its Risk Capital 2006 survey. In the survey, Basel II compliance is named by the majority of respondents as the most important area of risk for the next year. Most firms who took the survey are confident of being Basel II compliant by 2008.
After Basel II issues, firms were asked what regulations were of the biggest concern. Thirty-four per cent named Basel III. International Accounting Standards (IAS) was second at 22% and Sarbanes Oxley holds third place at 19%. MiFID was the least concern to firms, with only 10% of respondents citing the directive as a challenge.
Firms were also asked their position on integrating credit and market risk. Thirty-six per cent of respondents said that such integration is theoretical but not yet
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