Part 4 - Legal risk Flashcards Preview

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Flashcards in Part 4 - Legal risk Deck (2)
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1

How is legal risk managed?

Change to law, practice & environment
Through in house counsel
documentation reviews
contracting with 3rd parties

2

What is legal risk?

Linked to operational and regulatory risks

Exposure to fines, penalties, punitive damages resulting from supervisory actions as well as private settlements