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RM-A.2.2

Past version: Effective from 01 Oct 2013 to 31 Dec 2015
To view other versions open the versions tab on the right

A list of recent changes made to this Module is provided below:

Module Ref. Change Date Description of Changes
RM-1.1.11 04/2008 Clarified the requirement for investment firm licensees to have a separate risk management function.
RM-7.3.3 04/2008 Clarified that CBB prior approval is required for intra-group outsourcing.
RM-7.1.6,
7.1.7 and
7.1.16 		07/2008 Clarified that CBB prior approval is required for outsourcing arrangements.
RM-B.1.2 10/2009 Amended to reflect applicability of Chapters RM-7 and RM-8.
RM-7.1.16 10/2009 Amended to read approved person.
RM-7.3.7 10/2009 New Rule added to clarify that licensees may not outsource core business activities, including internal audit, to their group.
RM-7.4 10/2009 Updated to reflect CBB's requirements for outsourcing the internal audit function.
RM-1.1.10, RM-1.1.11, and RM-1.1.13 07/2010 Updated and amended to include requirements for the risk management function.
RM-7.1.7 07/2010 New Rule added regarding outsourcing core business functions or activities to third parties.
RM-A.1.4 01/2011 Clarified legal basis.
RM-B.2 01/2011 Removed reference in title to affiliates.
RM-4.1.8 and RM-4.1.9 07/2012 Replaced reference to "securities" with "financial instruments".
RM-7.4.5 10/2012 Corrected typo.
RM-7.4.2A 01/2013 New Paragraph added to require that the outsourcing of the internal audit function must be supported by a board resolution or ratified by the audit committee.
RM-7.1.9 07/2013 Added cross reference.
RM-7.1.9A and RM-7.3.4 07/2013 Made reference to considerable outsourcing.
RM-7.4.4 07/2013 Changed Guidance to Rule.
RM-1.1.10 to RM-1.1.13 10/2013 Amendments made to allow overseas investment firm licensees to outsource the risk management function to their head office, subject to the CBB's prior written approval.