IIF’s Dallara criticises Basel Committee for shortcomings on governance reform

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Charles Dallara, the managing director of the Institute of International Finance (IIF), a global association of financial institutions, on Friday criticised the Basel Committee for failing to give sufficient attention over the need to change the risk culture at banks.

At the Risk Management 2011: Industry Practices and Regulatory Priorities event in London, Dallara said: "Risk culture is crucial. A lot of the commitments to techniques for risk management, even if they remain embedded, do not add

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