(Article 15 of Directive 2011/61/EU)
1. The safeguards against conflicts of interest referred to in Article 15(1) of Directive 2011/61/EU shall ensure, at least, that:
(a) decisions taken by the risk management function are based on reliable data, which are subject to an appropriate degree of control by the risk management function;
(b) the remuneration of those engaged in the performance of the risk management function reflects the achievement of the objectives linked to the risk management function, independently of the performance of the business areas in which they are engaged;
(c) the risk management function is subject to an appropriate independent review to ensure that decisions are being arrived at independently;
(d) the risk management function is represented in the governing body or the supervisory function, where it has been established, at least with the same authority as the portfolio management function;
(e) any conflicting duties are properly segregated.
2. Where proport
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