Fed's Bies on trends in risk management

In the speech 'Trends in Risk Management and Corporate Governance' given on 22 June Susan Schmidt Bies of the Federal Reserve said America's banks and other financial institutions are making progress in tightening their rules and procedures but still need to do more.

"Those institutions leading the way recognize that the culture of governance, ethics and control cannot readily be switched on and off," Bies said in prepared remarks to the Financial Managers Society.

Bies said "the vast majority of

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