41. Where the chair is permitted to assume executive duties, the investment firm should have …

Where the chair is permitted to assume executive duties, the investment firm should have measures in place to mitigate any adverse impact on the investment firm ’s checks and balances (e.g. by designating a lead board member or a senior independent board member, or by having a larger number of non-executive members within the management body in its supervisory function). The chair of the management body in its supervisory function at an investment firm must not simultaneously exercise the functions of a CEO within the same investment firm, unless justified by the investment firm and authorised by competent authorities.

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

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