INMA 4.2.4 Governing body's obligation

An INMA firm's governing body must evaluate the suitability and effectiveness of the information and reports that it and the firm's senior management receive under the firm's risk management policy. The test of suitability and effectiveness is whether the information and reports are suitable for effectively overseeing and implementing the firm's risk management strategy and policy.

so that the staff can identify, assess, manage and mitigate those risks effectively.

Derived from QFCRA RM/2014-4 (as from 1st January 2015).