CP13/6 - CRD IV for Investment Firms - Financial Conduct Authority

FCA 2013/XX
4.3A.5R to SYSC 4.3A.12R.
[Note: article 96 of CRD]
Amend the following provisions.
7.1 Risk control
…
7.1.4 R The senior personnel management body of a common platform firm must
approve and periodically review the strategies and policies for taking up,
managing, monitoring and mitigating the risks the firm is or might be exposed
to, including those posed by the macroeconomic environment in which it
operates in relation to the status of the business cycle.
…
[Note: annex V paragraph 2 of the Banking Consolidation Directive article
76(1) of CRD]
7.1.7B G In setting the method of determining the remuneration of employees involved
in the risk management function, BIPRU firms firms that SYSC 19A applies
to will also need to comply with the Remuneration Code.
7.17BA G In setting the method of determining the remuneration of employees involved
in the risk management function, BIPRU firms will also need to comply with
the BIPRU Remuneration Code.
7.1.8 G (1) SYSC 4.1.3R requires a BIPRU firm to ensure that its internal control
mechanisms and administrative and accounting procedures permit the
verification of its compliance with rules adopted in accordance with the
Capital Adequacy Directive at all times. In complying with this
obligation, a BIPRU firm should document the organisation and
responsibilities of its risk management function and it should document
its risk management framework setting out how the risks in the business
are identified, measured, monitored and controlled. [deleted]
…
7.1.9 R …
Credit and counterparty risk
7.1.10 R …
[Note: annex V paragraph 3 of the Banking Consolidation Directive]