Conduct risks stalk banks in Libor transition
As replacement rate concerns become more pressing, firms fear Libor lawsuits and regulatory wrath
Lions and tigers and bears, oh my. A terrible trifecta of operational, legal and conduct risks could be lying in wait for unsuspecting banks on the Libor transition road. Financial institutions should prepare themselves for these half-hidden hazards, say op risk experts – or face brutal consequences.
Among the challenges of educating clients of varying size and sophistication, experts anticipate the potential for claims of mis-selling, of negligent advice – or of inadvertently providing
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