66. The management body should be responsible for the approval of sound strategies and policies for …

The management body should be responsible for the approval of sound strategies and policies for the establishment of new structures. Where an investment firm creates many legal entities within its group, their number and, in particular, the interconnections and transactions between them should not pose challenges for the design of its internal governance, nor for the effective management and oversight of the risks of the group as a whole. The management body should ensure that the structure of an investment firm and, where applicable, the structures within a group, taking into account the criteria specified in Section 7, are clear, efficient and transparent to the investment firm ’ s staff, shareholders and other stakeholders and to the competent authority.

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

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