Regulatory Alerts2024-07-10
Added · Updated
Guidelines on Risk Management Practices – Internal Controls
The Guidelines on Risk Management Practices – Internal Controls, last revised on 10 July 2024, provide financial institutions with guidance on sound and prudent internal controls, covering the control environment and business process controls. These guidelines replace the version from July 2014, which was cancelled with effect from 10 July 2024. The document also references related requirements for designated financial holding companies and licensed insurers, including enterprise risk management and insurance fraud mitigation.
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