5 largest operational risk losses: May 2020

  • 8 June 2020

Do you know which op risk loss events have had the most impact recently? Read on for the 5 largest operational risk losses reported by ORX News in May 2020.

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The ORX News service works by searching global media outlets for operational risk loss events. Our team of multilingual researchers summarise the stories and classify them with the relevant information such as the sector, business line, event type and scenario category. This means you can easily use the service to enhance your scenario generation process, monitor important risk trends and raise awareness of operational risk events.

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Top 5 op risk losses reported by ORX News in May 2020

1. Morgan Stanley – $45.5m

Morgan Stanley to pay up to EUR 42 million to Dutch tax authorities over alleged cum ex deals. 

Business Line: BL0201 Equities
Event Line: EL0402 Improper Business or Market Practices

2. Norfund – $10.0m

Norfund defrauded of USD 10 million loan in fake email scam.

Business Line: BL0101 Corporate Finance
Event Type: EL0201 External Theft & Fraud

3. Bloomberg Tradebook – $5.0m

Bloomberg Tradebook fined USD 5 million by SEC for trade order routing misrepresentations.

Business Line: BL0202 Global Markets
Event Type: EL0401 Suitability, Disclosure & Fiduciary

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4. MSSB – $5.0m

MSSB to pay USD 5 million for misleading customers about charges for trade execution services.

Business Line: BL0801 Retail Brokerage
Event Type: EL0401 Suitability, Disclosure & Fiduciary

5. Stifel – $3.6m

Stifel pay over USD 3.6 million for giving misleading and inaccurate information on UITs.

Business Line: BL0801 Retail Brokerage
Event Type: EL0401 Suitability, Disclosure & Fiduciary

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The operational risk year to date

Summary of distribution, frequency and severity of ORX News event digests.

Top 5 chart May 2020

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ORX News Monthly Top 5 Stories - May 2020

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ORX News is an industry-leading provider of publicly reported operational risk loss events. Financial firms around the world use the service to monitor operational risk losses and understand trends.

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