CTRL 3.1.11 General obligations — own structure

An authorised firm’s governing body:

(a) must have a well-designed governance structure;
The governing body should maintain and periodically update rules, by-laws or other similar documents setting out its organisation, rights, responsibilities and key activities.
(b) must allocate sufficient time and attention for its members to perform their duties effectively; and
(c) must consider how it can best perform its role, and in particular whether to create 1 or more committees to make recommendations to the body on matters about which the body must make decisions.


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