Question
Are the Guidelines of the Committee of European Banking Supervisors on the management of operational risks in market-related activities (12 October 2010) still in force and applicable? Is the same legal reasoning used under Question 2020_5340 applicable?
Background on the question
The Committee of European Banking Supervisors Guidelines on the management of operational risks in market-related activities (12 October 2010) set out supervisory expectations relating to specific arrangements, procedures, mechanisms and systems in trading areas that could prevent or mitigate operational risk events. The subject is addressed from three different angles, described in the following sections - Governance mechanisms (Section 2), Internal controls (Section 3) and Reporting systems (Section 4). Given that no later express guidance explicitly replaced these Guidelines when the CRD was amended and repealed, are these to still be considered in force and applicable?
Answer
This question has been rejected because the matter it refers to has been answered inQ&A 5340.