Financial firms must enhance the way they assess their risk appetite and strengthen risk management and controls, according to a Deloitte & Touche report. "Defining, managing and monitoring risk appetite is key and a lynch pin" to reaching goals set by the Walker review and the U.K. Financial Services Authority, said Kari Hale of Deloitte. "Neither businesses nor the regulator have yet developed a clear model of how this is best done."

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