4
Oversight
4.1
This Chapter does not apply to a credit union or a third country CRR firm.
- 07/03/2016
4.2
The Chair of the Governing Body function (SMF9) is the function of having responsibility for chairing, and overseeing the performance of the role of, the governing body of a firm.
- 10/12/2018
4.3
The Chair of Risk Committee function (SMF10) is the function of having responsibility for chairing, and overseeing the performance of any committee responsible for the oversight of the risk management systems, policies and procedures of a firm specified in Risk Control 2, including where applicable to the firm, a committee established in accordance with Risk Control 3.1.
- 10/12/2018
4.4
The Chair of Audit Committee function (SMF11) is the function of having responsibility for chairing, and overseeing the performance of any committee responsible for the oversight of the internal audit system of a firm specified in Compliance and Internal Audit 2.
- 10/12/2018
4.5
The Chair of Remuneration Committee function (SMF12) is the function of having responsibility for chairing, and overseeing the performance of any committee responsible for the oversight of the design and the implementation of the remuneration policies of a firm, including where applicable to the firm, a committee established in accordance with Remuneration 7.4.
- 10/12/2018
4.6
The Senior Independent Director function (SMF14) is the function of performing the role of a senior independent director, and having particular responsibility for leading the assessment of the performance of the person performing the Chair of the Governing Body function.
- 10/12/2018