(1) An investment firm shall -
(a) establish adequate policies and procedures sufficient to ensure compliance of the firm and the persons who are the firm's managers, employees or tied agents with the firm's obligations under these Regulations,
(b) maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps designed to prevent conflicts of interest, as identified under Regulations 74 and 75, from adversely affecting the interests of the firm's clients,
(c) ensure continuity and regularity in the performance of investment services and activities by implementing and carrying out appropriate and proportionate systems, resources and procedures,
(d) ensure that the firm takes reasonable steps to avoid undue additional operational risk when relying on a third party for the performance of operational functions which are critical for -
(i) the provision of continuous and satisfactory service to clients, and
(ii) the performance