Strategic Shareholder Climate and Risk Financial Financial Barclays PLC 369 report information sustainability report Governance review review statements Annual Report 2022 Risk performance - Model risk, Conduct risk, Reputation risk and Legal risk (continued) The Group continued to incur costs in Tolerances adherence is assessed Legal risk relation to litigation and conduct matters, through key indicators, which are also used The Group remains committed to refer to Note 26 Legal, competition and to evaluate the legal risk profile and are continuous improvements in managing regulatory matters and Note 24 Provisions reviewed, at least annually, through the legal risk effectively. At the end of 2022, for further details. Costs include customer relevant risk and control committees. enhancements were made to the Group- redress and remediation, as well as fines Mandatory controls to manage legal risks wide legal risk management framework and settlements. Resolution of these are set out in the legal risk standards and primarily relating to the Legal Function's matters remains an ongoing commitment are subject to ongoing monitoring. The responsibility for the identification of legal to improve oversight of culture and changes to the legal risk management risks and the escalation of legal risk as conduct and management of reputation framework referred to above are intended necessary. risks. to provide continuing improvements to Other improvements during 2022 included the effectiveness of the legal risk control As part of Barclays 2022 Medium Term a review and update of the supporting legal environment as they are implemented Planning process, material reputation risks risk policies, standards and mandatory through 2023. associated with strategic and financial training, reinforced by ongoing plans were also assessed. engagement with and education of the Group’s businesses and functions by Legal Function colleagues. Legal risk tolerances and legal risk appetite have also been reviewed.