Regulatory Alerts2021-03-15
Added · Updated
Circular addressed to Corporate Service Providers Classified as Class C
Class C corporate service providers must establish and maintain an independent Risk Management Function to implement policies and report to senior management. Providers may apply for a derogation to operate a non-independent function if they demonstrate that an independent structure is not appropriate or proportionate, requiring submission of a Request Form to the Authority. Previously registered Class C providers must ensure the function is in place by 16 September 2021, with any derogation applications submitted prior to that date.
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