CEBS draft guidelines on the management of operational risk in market-related activities

Following the publication of CEBS's high level principles on Internal Governance (CEBS Guidelines on the Application of the Supervisory Review and Evaluation Process- Section 2), its draft high level principles on risk management and its high level principles on remuneration policies, CEBS now introduces more specific principles and implementation measures for the identification, assessment, control and monitoring of operational risk in market-related activities.CEBS draft principles are divided into three different parts, addressing the management of operational risk in market-related activities from three different angles: * Governance mechanisms - principles 1-5; * Internal controls - principles 6-15; and * Internal reporting systems - principles 16-17.CEBS expects its members to have implemented the guidelines by December 2010. An implementation review will be undertaken by the CEBS secretariat in the first quarter of 2011.CEBS submits its initial views for a public consultation which starts today and runs until 31 March 2010. Comments received will be published on CEBS's website unless respondents request otherwise. Please send your comments to the following email address:cp35@c-ebs.org