Reset to Today

To access the FCA Handbook Archive choose a date between 1 January 2001 and 31 December 2004.

Content Options:

Content Options

View Options:

Alternative versions

  1. Point in time
    2008-05-31

ELM 5.4A Organisation and internal control mechanisms

ELM 5.4A.1R

1A firm must have robust governance arrangements, which include a clear organisational structure with well defined, transparent and consistent lines of responsibility, effective processes to identify, manage, monitor and report the risks it is or might be exposed to, and adequate internal control mechanisms, including sound administrative and accounting procedures.

ELM 5.4A.2R

The arrangements, processes and mechanisms referred to in ELM 5.4A.1 R must be comprehensive and proportionate to the nature, scale and complexity of the firm's activities.

ELM 5.4A.3G