CTRL 1.2.1 What is a firm’s governing body?

For these rules, an authorised firm’s governing body is:

(a) in the case of a firm that is incorporated as a company or a limited liability partnership in the QFC, or is a partnership constituted under the Partnership Regulations 2007 — its board of directors or the body (whatever it is called) that, under the firm’s constitutional document, has the responsibility of overseeing the firm’s business in or from the QFC; and
(b) in the case of a firm that is a branch:
(i) the firm’s board of directors, or a committee of that board, that has the responsibility of overseeing the firm’s business in or from the QFC; or
(ii) that part of the firm’s committee of management or other body (whatever it is called) that has the responsibility of overseeing the firm’s business in or from the QFC.
Derived from QFCRA RM/2020-4 (as from 1st July 2021)