Article 6 Policies and procedures

Policies and procedures provided in an application shall contain or be accompanied by:

1. (a)

   an indication of who is responsible for the approval and maintenance of the policies and procedures;

2. (b)

   a description of how compliance with the policies and procedures will be enforced and monitored and who is responsible for this;

3. (c)

   a description of the measures undertaken in the event of a breach of the policies;

4. (d)

   an indication of the procedure for reporting to the FCA a material breach of the policy or procedure which may result in a breach of the conditions for initial registration or certification.

A credit rating agency may fulfil the obligation to provide information regarding its policies and procedures under this Regulation by submitting a copy of the relevant policies and procedures.