Content Options

View Options

Status: You are viewing the version of the handbook as on 2009-03-31.

ELM 5.4A Organisation and internal control mechanisms

ELM 5.4A.1R

1A firm must have robust governance arrangements, which include a clear organisational structure with well defined, transparent and consistent lines of responsibility, effective processes to identify, manage, monitor and report the risks it is or might be exposed to, and adequate internal control mechanisms, including sound administrative and accounting procedures.

ELM 5.4A.2R

The arrangements, processes and mechanisms referred to in ELM 5.4A.1 R must be comprehensive and proportionate to the nature, scale and complexity of the firm's activities.

ELM 5.4A.3G