7.2.24. Firms and holding companies should implement procedures to manage the firm's/holding company's compliance obligations with Section 21 of the 2010 Act and the Certification Regulations.
7.2.25. In this regard, the Central Bank recognises that firms/holding companies may wish to incorporate the certification process within existing processes and, as such, the Central Bank has not prescribed a format for certification. For example, some firms may wish to incorporate the certification process as part of their ongoing performance monitoring.
7.2.26. The Central Bank will engage in periodic follow-up with firms/holding companies regarding the appropriateness of and compliance with the certification process, through ongoing supervisory engagement and/or thematic inspections.
7.2.27. Further, there should be one individual within a firm with overall responsibility for certification. Accordingly, for those firms in scope of SEAR, an individual must be assigned PR 2 'Responsibility for t
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