CAPI 2.3.5 Strategy and risk document—approval by governing body
(1) A firm must ensure that its strategy and risk document and any amendment to it are approved by its governing body.
(2) The governing body of a firm must not approve the firm's strategy and risk document (or any amendment to it) unless it is satisfied that—
(a) the document, including any amendment, describes the key elements of the firm's risk management policy; and
(b) the risk management policy of the firm is appropriate; and
(c) the risk management strategy set out in the document gives reasonable assurance that all material risks facing the firm, specially those mentioned in rule 2.3.4, are being prudently and soundly managed.
(3) The governing body must approve the strategy and risk document and any amendment to it with sufficient promptness to enable the firm to comply with its obligation under rule 2.3.7 (Strategy and risk document—copy must be given to Regulatory Authority).
|Derived from QFCRA RM/2011-1 (as from 1st July 2011)|