38. Without prejudice to the responsibilities assigned under the applicable national company law …

Without prejudice to the responsibilities assigned under the applicable national company law, in its supervisory function the management body should:

• a. oversee and monitor management decision-making and actions and provide effective oversight of the management body in its management function, including monitoring and scrutinising its individual and collective performance and the implementation of the investment firm ’s strategy and objectives;
• b. constructively challenge and critically review proposals and information provided by members of the management body in its management function, as well as its decisions;
• c. appropriately fulfil the duties and role of the risk committee and the remuneration committee, where no such committees have been set up;
• d. ensure and periodically assess the effectiveness of the investment firm’s internal governance framework and take appropriate steps to address any identified deficiencies;
• e. oversee and monitor that the investment firm ’s strategic objectives, organisational structure and risk strategy, its risk appetite and risk management framework, as well as other policies (e.g. remuneration policy) and the disclosure framework are implemented consistently;
• f. monitor that the risk culture of the investment firm is implemented consistently;
• g. oversee the implementation and maintenance of a code of conduct or similar code and effective policies to identify, manage and mitigate actual and potential conflicts of interest;
• h. oversee the integrity of financial information and reporting, and the internal control framework, including an effective and sound risk management framework;
• i. ensure that the heads of internal control functions are able to act independently and, regardless of the responsibility to report to other internal bodies, business lines or units, can raise concerns and warn the management body in its supervisory function directly, where necessary, when adverse risk developments affect or may affect the investment firm; and
• j. monitor the implementation of the internal audit plan following the prior involvement of the risk committee, where established.

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

• EBA -

  EN: Guidelines and other publications of the European Banking Authority (EBA), https://www.eba.europa.eu/. © European Banking Authority. Reproduction is authorised provided the source is acknowledged (EBA legal notice). Divided into sections and converted into the GRCA format, the wording unchanged. Only the versions published by the EBA are authoritative.

  DE: Leitlinien und weitere Veröffentlichungen der Europäischen Bankenaufsichtsbehörde (EBA), https://www.eba.europa.eu/. © European Banking Authority. Wiedergabe mit Quellenangabe gestattet (Rechtlicher Hinweis der EBA). In Abschnitte aufgeteilt und in das GRCA-Format umgewandelt, der Wortlaut unverändert. Maßgeblich sind allein die von der EBA veröffentlichten Fassungen.