2 Management function of the management body

In its management function, the management body should actively engage in the business of an investment firm and should take decisions on a sound and well-informed basis.

In its management function, the management body should be responsible for the implementation of the strategies set out by the management body and regularly discuss the implementation and appropriateness of these strategies with the management body in its supervisory function. The operational implementation may be carried out by the investment firm ’ s management.

In its management function, the management body should constructively challenge and critically review propositions, explanations and information received when exercising its judgement and taking decisions. In its management function, the management body should comprehensively report to, and inform regularly and where necessary without undue delay, the management body in its supervisory function of the relevant elements for the assessment of a situation, the risks and developments affecting or that may affect the investment firm, e.g. material decisions on business activities and risks taken, the evaluation of the investment firm’s economic and business environment, liquidity and sound capital base, and assessment of its material risk exposures.

Without prejudice to the national transposition of Directive (EU) 2015/849 Anti-Money Laundering Directive (AMLD), the management body should identify one of its members in line with the requirements under Article 46(4) of Directive (EU) 2015/849 to be responsible for the implementation of the laws, regulations and administrative provisions necessary to comply with this directive, including the corresponding AML/CFT policies and procedures in the institution and at the level of the management body .