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SFC report applauds “too-big-to-fail” banks for improved risk governance and culture

In a report published by the Securities and Futures Commission (SFC), banks that are ‘too-big-to-fail’ or global systematically important financial institutions (G-SIFIs), were praised for “improve[ed] risk governance and culture” after the 2008 global financial crisis. The report, titled ‘Risk-focused Industry Meeting Series: G-SIFI Trends in Risk and Risk Mitigation’, highlights various best practices banks have adopted for the purpose…

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