Skip to Content
Whole SectionText only Print Print Manager Link


These provisions must include but should not be limited to the following:

(a) The CEOG must have authority to act generally in the investment firm licensee'sG name, representing the investment firm licensee'sG interests in concluding transactions on the investment firm licensee'sG behalf and giving instructions to other senior managersG and investment firm licenseeG employees;
(b) The chief financial officer must be responsible and accountable for:
(i) The complete, timely, reliable and accurate preparation of the investment firm licensee'sG financial statements, in accordance with the accounting standards and policies of the investment firm licenseeG (see HC-3.4.1); and
(ii) Presenting the Board with a balanced and understandable assessment of the investment firm licensee'sG financial situation;
(c) The corporate secretary's duties must include arranging, recording and following up on the actions, decisions and meetings of the Board and of the shareholders (both at annual and extraordinary meetings) in books to be kept for that purpose;
(d) The internal auditor's (see HC-6.4) duties must include providing an independent and objective review of the efficiency of the investment firm licensee'sG operations. This would include a review of the accuracy and reliability of the investment firm licensee'sG accounting records and financial reports as well as a review of the adequacy and effectiveness of the investment firm licensee'sG risk management, control, and governance processes; and
(e) The compliance officer's (see HC-6.5) duties include maintaining effective systems and controls for compliance with applicable requirements in the Kingdom's legislation and those set by the CBB, and those established under any other statute or regulator to which they are subject.
Amended: April 2011
January 2011
(2 Versions)
Jan 1 2011 - Mar 31 2011Apr 1 2011 onwards
Back to top