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RM-1.1.11

Past version: Effective from 01 Jul 2010 to 30 Sep 2013
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Where a licensee maintains a separate risk management function, this function must be independent of risk-taking units. The duties of the risk management function include but are not limited to:

a) Identifying, measuring, monitoring, and controlling the major sources of risks associated with the operations of the investment firm licensee on an ongoing basis;
b) Reporting to the Board and senior management on all material risks to the licensee; and
c) Documenting the processes and systems by which it identifies and monitors material risks, and how it reports to the Board and senior management these risks.
Adopted: July 2010