OM-1.7 OM-1.7 Disclosure
OM-1.7.1
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licensee's public disclosures must allow stakeholders to assess its approach to operational risk management.January 2014OM-1.7.2
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licensee's public disclosure of relevant operational risk management information can lead to transparency and the development of better industry practice through market discipline. The amount and type of disclosure should be commensurate with the size, risk profile and complexity of a licensee's operations, and evolving industry practice. See Section PD-1.3 on disclosure requirements.January 2014OM-1.7.3
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licensee should disclose its operational risk managementframework in a manner that will allow stakeholders to determine whether thelicensee identifies, assesses, monitors and controls/mitigates operational risk effectively.January 2014OM-1.7.4
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licensee's disclosures should be consistent with how senior management and the board of directors assess and manage the operational risk of thelicensee .January 2014OM-1.7.5
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licensee must have a formal disclosure policy approved by the board of directors that addresses thelicensee's approach for determining what operational risk disclosures it will make and the internal controls over the disclosure process. In addition,licensees must implement a process for assessing the appropriateness of their disclosures, including the verification and frequency of them.January 2014
