(1) An investment business firm shall, at all times, have in place policies, resources and systems to identify, monitor, report on and manage risks to which it is or may be exposed in respect of their activities.
(2) Without prejudice to the generality of paragraph (1), an investment business firm shall have -
(a) management resources required to conduct its activities in an effective manner,
(b) financial resources -
(i) required to meet its investment business objectives, and
(ii) which reflect the risks to which its business is subject,
(c) control systems and accounting procedures required to ensure that it is in a position to satisfy supervisory and regulatory requirements, and
(d) robust governance arrangements, which include a clear organisational structure with well defined, transparent and clearly identifiable lines of reporting.
(3) An investment business firm shall have in place accounting policies and procedures that enable the investment business firm to deliver to th