In respect of Category 3 investment firms, however, the specific requirements contained in Module HC should be considered as good practice, which it may be appropriate to apply. Notwithstanding the exemption from the specific requirements of Module HC, specified in Rule HC-B.1.2, Category 3 investment firms are nonetheless required to maintain adequate systems and controls (see Sections AU-2.6 and PB-1.10).
Adopted: July 2007