(1) A fund service provider shall have an investor money management plan in order to safeguard investor money.
(2) An investor money management plan shall be reviewed and updated -
(a) if there is any change to the fund service provider's business model which affects the manner by which investor money is held, and
(b) in any event, at least on an annual basis,
to ensure that the information contained therein is accurate.
(3) The board of a fund service provider shall approve the investor money management plan -
(a) when material changes are made,
(b) when it is reviewed and updated in accordance with Regulation 79(2), and
(c) in any event, at least on an annual basis.
(4) The investor money management plan shall record the following:
(a) details of a fund service provider's business model, operational structures and governance arrangements;
(b) the range of fund services carried out by a fund service provider;
(c) risks to the safeguarding of investor money including those specifi