CTRL 1.1.4 Application of CTRL
(1) These rules apply to an authorised firm in relation to the carrying on of a regulated activity in or from the QFC.
(2) These rules also apply to:
(a) an authorised firm’s governance, its risk management framework, and its policies and procedures, outside the QFC to the extent that they relate to a regulated activity carried on in or from the QFC; and
(b) every function exercised by or on behalf of an authorised firm outside the QFC (including any outsourced function), to the extent that the function relates to the carrying on of a regulated activity in or from the QFC.
|Derived from QFCRA RM/2012-4 (as from 1st July 2013)
Amended by QFCRA RM/2020-4 (as from 1st July 2021)