150. The internal control functions should include an effective and permanent internal compliance …

The internal control functions should include an effective and permanent internal compliance function, and where appropriate and proportionate, taking into account the criteria listed in Title I, a risk management function and an internal audit function. The responsibilities of control functions also include ensuring compliance with AML/CTF requirements. Where investment firms do not establish and maintain a risk management function and an internal audit function, they should be able to demonstrate upon request that the policies and procedures adopted and implemented for an internal control framework effectively achieve the same outcome as the guidelines provided in this Title V.

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/