The importance of proper risk management, and the consequences of failure to have it in place, have never been greater. Where failure occurs, not just firms but also individuals may face consequences. The FSA’s Director of Enforcement, Margaret Cole, said in 2006 that “Failure to manage risks properly is now, more than ever, likely to result in disciplinary action being brought against individuals as well as firms.” The FSA has power to censure publicly, fine and even ban individuals from working in the financial services, where there are serious contraventions of the FSA rules.
The Frontiers of Risk Management therefore was initially developed to meet an important need and was well timed. The book was comprehensive in its scope, seeking ...
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