EBA · 2024_7037 Rejected question

Management of the Trading Book - Active Anti-Fraud Procedures and Controls

Regulation
Regulation (EU) No 575/2013 (CRR)
Article
103, para. b
Topic
Market risk
Submitted by
Investment firm
Submitted
2024-03-13
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Question

Under Article 103(2), point (b)(vi), CRR, there is a requirement that institutions shall have active anti-fraud procedures and controls. Could you please provide clarification on the specific types of fraud that should be considered with respect to the trading book? Can this be considered to effectively cross-refer to the requirements of Regulation (EU) No 596/2014 on market abuse or are there other areas which need to also be considered?

Background

There is no clarity on the types of fraud which should be considered and therefore the scope of procedures and control requirements which firms should have in place is ambiguous
No answer published yet.

Original source: European Banking Authority, Q&A ID 2024_7037

This Q&A is published by European Banking Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.

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