98. For SREP, the assessment of the investment firm’s internal governance and controls should …

For SREP, the assessment of the investment firm’s internal governance and controls should include, having regard to the application of the principle of proportionality, an assessment of the following areas:

• a. the overall internal governance framework, which should include a clear organisational structure and appropriate corporate risk culture;
• b. the composition, organisation and functioning of the management body and its committees, where established;
• c. remuneration policies and practices;
• d. the internal control framework, which should include an independent compliance, and, where applicable, internal risk management and internal audit functions;
• e. risk management framework, including ICARAP;
• f. Information and communication technology; and
• g. business continuity planning.

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

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