Banking supervisors stress controls
On April 30, senior financial supervisors from 10 countries issued a “briefing note” assessing the risks associated with algorithmic trading and identifying a list of principles and oversight issues for supervisors and financial institutions to consider when assessing the control environment inside firms. The group, which includes representatives from the banking supervisory departments of the Federal Reserve, the Bank of England, and the European Central Bank, said the report aims to facilitate “thoughtful dialogue and action about improving risk management practices” in this area.
