Prudential Regulation Authority Rulebook

5.1

This Chapter applies only to

1. (1) a small CRR firm; and
2. (2) a credit union.

5.2

Each of the responsibilities listed in this rule is a small firm prescribed responsibility:

1. (1) each of the prescribed responsibilities in 4.1(1) – (3);
2. (2) responsibility for allocation of all small firm prescribed responsibilities in accordance with 3.3(1) or (2), as the case may be;
3. (3) responsibility for implementing and managing the firm’s risk management policies and procedures;
4. (4) responsibility for managing the systems and controls of the firm;
5. (5) responsibility for managing the firm’s financial resources;
6. (6) responsibility for ensuring the governing body is informed of its legal and regulatory obligations.