risk limit system

99(in COLL192) a documented system of internal limits concerning the measures used by a management company to manage and control the relevant risks for each UCITS it manages, taking into account all the risks which may be material to the UCITS, including, but not limited to, liquidity risk, counterparty risk, market risk and operational risk,192 ensuring consistency with the UCITS' risk profile.[Note: article 38(1) and 40(2)(d) of the UCITS implementing Directive]192