134. The management body should be responsible for establishing and monitoring the adequacy and …

The management body should be responsible for establishing and monitoring the adequacy and effectiveness of the internal control framework, processes and mechanisms, and for overseeing all business lines and internal units, including internal control functions (such as compliance including AML/CFT compliance where separate from the compliance function, and risk management and internal audit functions where established). Investment firms should establish, maintain and regularly update adequate written internal control policies, mechanisms and procedures, which should be approved by the management body. Where no risk management function is established, the management body should be responsible for establishing and monitoring adequate risk management procedures and policies.

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

• EBA - Published by the European Banking Authority at https://www.eba.europa.eu/