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A second major challenge for risk-based regulators is to take on board the extent to which managerial attitudes will affect the A first challenge in seeking to give effect to a risk-based system is to be clear about the degree to which risk evaluations will be used Another organizational difficulty for risk-based regulators may arise when their powers are sh A special danger in a risk-based regime is that the regulators become emotional to an established method of identifying key r Regulatory decisions that are based on risk appraisals will often prove to be more difficult to justify than involved parti