Related provisions for SYSC 13.8.6
21 - 24 of 24 items.
For the
purposes of this chapter an operational function is regarded as critical or
important if a defect or failure in its performance would materially impair
the continuing compliance of a firm (other than a common platform firm)7 with the conditions and obligations of its authorisation or its other obligations under
the regulatory system, or its
financial performance, or the soundness or the continuity of its relevant
services and activities.7
An authorised fund manager carrying out due diligence for the purpose of the rules in this section should make enquiries or otherwise obtain information needed to enable him properly to consider:(1) whether the experience, expertise, qualifications and professional standing of the second scheme's investment manager is adequate for the type and complexity of the second scheme;(2) the adequacy of the regulatory, legal and accounting regimes applicable to the second scheme and its
6A firm should include in the written record referred to in GENPRU 1.2.60 R a description of the broad business strategy of the UK consolidation group or the non-UK sub-group16 of which it is a member, the group’s view of its principal risks and its approach to measuring, managing and controlling the risks. This description should include the role of stress testing, scenario analysis and contingency planning in managing risk at the solo and consolidated level.14