RM-1.1.8

Additional requirements relating to Boards and senior management in terms of risk management and controls are specified in Module HC (High-Level Controls). The Board may delegate various functions and tasks, but retains ultimate responsibility. However, the CBB will also take into account the responsibility of the Chief Executive Officer or General Manager of a licensee, within the framework of delegated authorities laid down by the Board.

Amended: January 2007
Amended: October 2007