CTRL 1.2.2 What is a firm’s corporate governance framework?

(1) An authorised firm’s corporate governance framework is made up of the firm’s organisational structures, policies, procedures and systems and controls as they relate to the firm’s business objectives and the means of achieving them.
(2) An authorised firm’s corporate governance framework includes:
(a) the firm’s risk management framework (see rule 1.2.3);
(b) its internal control and assurance functions (that is, its risk management, compliance oversight, internal audit and actuarial functions);
(c) its business objectives; and
(d) the corporate governance obligations in these rules, the Companies Regulations, and other applicable regulations, rules and guidance.

 

Derived from QFCRA RM/2020-4 (as from 1st July 2021)