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EN-B.2.7

Where a significant element of judgement is required to assess compliance with a requirement, the CBB will usually discuss the matter with the authorised personG concerned, before using one of this Module's enforcement mechanisms. This is likely to be the case, for example, with respect to requirements for adequate systems and controls. Conversely, where there are clear-cut contraventions of CBB requirements, then the CBB will usually move immediately to one or more of the enforcement mechanisms outlined in this Module. This is more likely to occur in cases where quantitative requirements – such as those relating to capital and/or large exposures – are concerned. In most such cases, though, the CBB also expects to continue an active dialogue with the authorised personG concerned, aimed at remedying the contravention.

October 2010
 Versions
(1 Version)
 
Oct 1 2010 onwards
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