CTRL 3.1.9 What is the compliance oversight function?

The compliance oversight function for an authorised firm is the function of having responsibility—

(a) for the firm's compliance policies, procedures and controls; and
(b) for taking appropriate steps to ensure the implementation of and compliance with those policies, procedures and controls.

Note See also rules 4.1.5 and 4.1.6.

Derived from QFCRA RM/2012-4 (as from 1st July 2013)