90. Competent authorities should assess whether the institution has in place a well-documented new …

Competent authorities should assess whether the institution has in place a well-documented new product approval policy, approved by the management body, that addresses the development of new markets, products and services, and significant changes to existing ones, including exceptional transactions. Competent authorities should also consider whether the risk management and compliance functions are appropriately involved in the assessment and approval of new products or significant changes to existing ones, with approvals linked to the adequacy of the respective controls.

ICAAP and ILAAP frameworks

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

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