In July, the European Central Bank (ECB) published a Draft Guide on Governance and Risk Culture, which represents a significant update relative to its 2016 Supervisory Statement on Governance and Risk Appetite.
The draft Guide adds new expectations and suggested best practices for implementing effective systems of governance and risk culture. Yesterday, we at Starling Insights submitted comments to the ECB on how the regulator can deliver clearer guidance on these matters to both bank management teams and to supervisors themselves. Among the key points raised in our comments are calls for the ECB to:
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