MIR-3.7.1
Past version: Effective from 15 Dec 2009 to 31 Mar 2013
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The CBB may, in determining whether
(a) Ensure the proper functioning of the member ;
(b) Ensure the compliance of the member with any relevant laws or regulations of any jurisdiction in which it is incorporated, or in which it provides its regulated activities ;
(c) Set out and ensure compliance with written policies on all operational areas of the member , including its financial policies, accounting and internal controls, internal auditing and compliance with all laws and rules governing the operations of the member in general, and rules of protection of its clients assets in particular;
(d) Identify, monitor and address the risks associated with the business of the member ;
(e) Ensure that the business regulated activities of the member are subject to adequate internal audit;
(f) Oversee the financial undertakings or exposure of the member to risks of any nature by setting out proper delegation limits and risk management controls; and
(g) Ensure:
1. that the member maintains written records of the steps taken by it to monitor coVpliance with its policies, the limits on discretionary powers and its accounting and providing procedures; and
2. that every report, return or statement submitted by the member to the CBB is complete and accurate.
Adopted January 2010