At AsianInvestor's recent Southeast Asia Investor Forum, senior risk managers discussed how the financial crisis shined a light on issues related to risk management. Observers are concerned that market participants have not taken heed of the crisis' lessons. Some said another crisis is likely. Chris Michel, chief risk officer at CLSA Asia-Pacific Markets, said the perception that increasingly complex financial products were accompanied by increasingly sophisticated controls was false. Instead, an over-reliance on risk models might have played a role in the crisis, he said.
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