(1) A fund service provider shall have an individual with an investor money oversight role in order to ensure the safeguarding of investor money (in this Part referred to as the Head of Investor Money Oversight) and shall ensure that the Head of Investor Money Oversight shall have the necessary resources, including staff that are adequately trained with sufficient skill and expertise to carry out the responsibilities listed in Regulation 78(2) having regard to the nature, scale and complexity of the business of the fund service provider.
(2) The Head of Investor Money Oversight shall perform relevant duties including but not limited to the following:
(a) ensuring that every Investor Money Facilities Agreement referred to in Regulation 74(1) is obtained and maintained;
(b) reviewing, at least on an annual basis, the provisions of every Investor Money Facilities Agreement to ensure compliance with the requirements of this Part, in particular, Regulation 74(1);
(c) ensuring that any