CTRL 2.1.4 Principle 4 — review

The governing body of an authorised firm must ensure that the firm reviews its corporate governance framework and risk management framework appropriately, and does so sufficiently often to ensure that:

(a) the frameworks remain effective;
(b) the functions within the frameworks remain independent; and
(c) any necessary corrective action is taken.
Note The review must be carried out every 3 years, or more often if the Regulatory Authority so directs—see rule 3.1.19.

 

Derived from QFCRA RM/2012-4 (as from 1st July 2013)
Amended by QFCRA RM/2020-4 (as from 1st July 2021)