142. At the consolidated level, in addition to the elements covered in the sections above …

At the consolidated level, in addition to the elements covered in the sections above, competent authorities should assess whether:

• a. the management body of the consolidating investment firm understands both the organisation of the group and the roles of its different entities, and the links and relationships among them;
• b. the organisational and legal structure of the group is clear and transparent, and suitable for the size and the complexity of the business and operations;
• c. the investment firm has established an effective group-wide management information and reporting system applicable to all business units and legal entities, and this information is available to the management body of the investment firm’s parent undertaking on a timely basis;
• d. the management body of the consolidating investment firm has established consistent group-wide strategies, including a group wide risk strategy and appetite framework;
• e. group risk management covers all material risks regardless of whether the risk arises from entities not subject to consolidation (including SPVs, SPEs, and property firms) and establishes a comprehensive view on all risks;
• f. where established, the group-wide internal audit function is independent, has a group-wide risk-based audit plan, is appropriately staffed and resourced, has appropriate stature and has a direct reporting line to the management body of the consolidating investment firm.

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.