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As Assistant to the President for Economic Policy and Director of the National Economic Council (2017-2018), Gary Cohn managed the US economic policy agenda, stimulating economic expansion, job creation, and wage increases through historic tax and regulatory reform. Prior to that he was the President and Chief Operating Officer at Goldman Sachs where he worked for more than 25 years.

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Regulatory reporting deserves no less rigour than financial reporting

Regulatory reporting deserves no less rigour than financial reporting

by Starling Insights

Starling Insights Editorial Board

Sep 21, 2021

Observations

UK UK PRA Regulatory Trends Governance, Audit & Regulatory Failures

The UK Prudential Regulation Authority (PRA) recently expressed its disappointment in banks' fulfillment of their regulatory reporting responsibilities. The regulator found "significant deficiencies" in the regulatory process, and reminded firms that they must be just as diligent as they are with their financial reporting processes.

"We expect all firms to submit reliable and accurate regulatory returns and for the regulatory reporting process to receive no less rigour than financial reporting," wrote PRA Executive Director Bailey.

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