63. Issuers of ARTs should develop and maintain a culture that encourages a positive attitude …

Issuers of ARTs should develop and maintain a culture that encourages a positive attitude towards risk control and compliance within the issuer and a robust and comprehensive internal control framework. Under this framework, issuers of ARTs business lines or internal unit should be responsible for managing the risks they incur in conducting their activities and should have controls in place that aim to ensure compliance with internal and external requirements. As part of this framework, issuers of ARTs should have a permanent and effective internal compliance function with appropriate and sufficient authority, stature and access to the management body to fulfil its mission, and a risk management framework. Where proportionate, taking into account the criteria listed in Title I, issuers of ART should also have an internal risk management and audit function. In any case, the issuer of ARTs should have appropriate risk management and audit policies and procedures in place.

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

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  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.