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  • Risk Monitoring and Controlling

    • RM-5.1.14

      When monitoring their operational risk, investment firm licensees must:

      (a) Report regularly to the relevant level of management its operational exposures, loss experience (including if possible cumulative losses), and authorised deviations from the investment firm licensee's operational risk policy;
      (b) Engage in exception-based escalation to management of:
      (i) Unauthorised deviations from the investment firm licensee's operational risk policy;
      (ii) Likely or actual breaches in predefined thresholds for operational exposures and losses, where set; and
      (iii) Significant increases in the investment firm licensee's exposure to operational risk or alterations to its operational risk profile.
      Adopted: July 2007