+Title 5 Assessing internal governance and investment firm-wide controls
---+5.1 General considerations
------+97. Competent authorities should assess whether or not an investment firm’s internal governance …
------+98. For SREP, the assessment of the investment firm’s internal governance and controls should …
------+99. The assessment of internal governance should inform the specific assessment of risk management …
------+100. In line with the EBA Guidelines on internal governance , the assessment of the internal …
------+101. To ensure a consistent investor protection across the financial services, competent …
------+102. Competent authorities should have regard to the principle of proportionality with a view to …
------+103. For the purpose of the above paragraph and having regard to the variety of different business …
------+104. Criteria to be taken into account for the application of the principle of proportionality such …
------+105. For the appropriate application of the SREP in the case of investment firms classified, in …
------+106. For investment firms which meet the conditions for qualifying as small and non-interconnected …
---+5.2 Overall internal governance framework
------+107. Competent authorities should assess whether the investment firm establishes robust internal …
------+108. Competent authorities should assess whether the investment firm’s overall governance framework …
------+109. For the purpose of proportionality and where category 3 investment firms are concerned …
---+5.3 Organisation and functioning of the management body
------+110. In accordance with Articles 26 and 28 of Directive (EU) 2019/2034, the EBA Guidelines on …
------+111. For the purpose of proportionality and where category 3 investment firms are concerned …
---+5.4 Remuneration policies and practices
------+112. Competent authorities should assess whether the investment firm has remuneration policies and …
------+113. Competent authorities should assess at least whether: a. the remuneration policy for all staff …
------+114. When applying the principle of proportionality, competent authorities should consider the …
---+5.5 Internal control framework and functions
------+115. Competent authorities should assess whether the investment firm has an internal control …
------+116. Competent authorities should assess whether the investment firm has an effective and permanent …
------+117. Competent authorities should assess whether the investment firm’s compliance function, and …
---+5.6 Risk management framework
------+118. Competent authorities should assess whether the investment firm has established an appropriate …
------+119. When assessing the risk management framework, competent authorities should consider the extent …
------+120. When reviewing the risk strategy, risk appetite and risk management framework of an investment …
------+121. Competent authorities should assess whether investment firms, which are not small and …
------+122. In the case of investment firms which meet the conditions for qualifying as small and …
------+123. These assessments should contribute to the determination of additional own funds requirement …
------+124. When assessing the soundness of the ICARAP, competent authorities should assess, where …
------+125. When assessing the effectiveness of the ICARAP, competent authorities should assess, where …
------+126. Competent authorities should assess the appropriateness of the ICARAP’s coverage of the …
------+127. Competent authorities should assess whether the investment firms perform a comprehensive …
------+128. Competent authorities should assess whether investment firms performing activities referred to …
------+129. Competent authorities should review investment firms’ assessments of cyclical economic …
------+130. For investment firms performing activities referred to in point (3) or (6) of Section A of …
------+131. When assessing stress tests and sensitivity analyses and their results in the case of …
------+132. If competent authorities identify deficiencies in the design of the assessment of cyclical …
---+5.7 ML/TF risks and prudential concerns
------+133. When analysing the internal governance framework and investment firm-wide controls, competent …
------+134. Competent authorities should assess whether the investment firm’s overall governance framework …
------+135. In line with the EBA Guidelines on internal governance and Joint ESMA and EBA Guidelines on …
------+136. For the purpose of proportionality, where lower ML/TF risk is justified by the types of …
---+5.8 Information and communication technologies
------+137. Competent authorities should assess whether the investment firm has sound, effective and …
------+138. In particular, competent authorities should assess whether the investment firm is able to …
------+139. Competent authorities should assess whether the information systems effectively support the …
---+5.9 Business contingency and continuity planning
------+140. Competent authorities should assess whether the investment firm has established an effective …
------+141. Competent authorities should assess whether an investment firm: a. has put in place and tested …
---+5.10 Application at the consolidated level and implications for group entities
------+142. At the consolidated level, in addition to the elements covered in the sections above …
------+143. When conducting the assessment of internal governance and investment firm-wide controls at …
---+5.11 Summary of findings and scoring
------+144. Following the above assessments, competent authorities should form a view on the adequacy of …
------+Score Supervisory view Considerations
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Title 5 Assessing internal governance and investment firm-wide controls
Title 5 Assessing internal governance and investment firm-wide controls
1. Overview
1.1 References
1.2 Identified Requirements
1.3 Related Standards
2. Identified Requirements
Requirements
| Source |
Requirement |
3. Related Standards
Standards
| Source |
Requirement |
- EBA - Published by the European Banking Authority at https://www.eba.europa.eu/
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