As part of the licensing approval process, applicants must demonstrate in their business plan (together with any supporting documentation) what risks their business would be subject to and how they would manage those risks. They must also address risks, including liquidity, credit, market or investment risks, operational risks and other material risks to investors associated with assets under management in CIUs. Applicants may also be asked to provide an independent assessment of the appropriateness of their systems and controls to the CBB.