Subsection 2: Organisation and internal control

Investment firms shall have: 1° Sound governance arrangements including, in particular, a clear organisation ensuring a well-defined, transparent and consistent division of responsibilities, effective procedures for identifying, managing, monitoring and reporting the risks to which they are or may be exposed, or the risks that they impose or may impose on others; 2° Adequate internal control arrangements, including sound administrative and accounting procedures; 3° Remuneration policies and practices enabling sound…

I.-Investment firms shall have robust strategies, policies, processes and systems in place to identify, measure, manage and monitor the following: 1° The significant causes and effects of risks to clients and any significant impact on own funds; 2° The significant causes and effects of risks to the market and any significant impact on own funds; 3° The significant causes and effects of risks to the investment firm, in particular those…

The board of directors, the supervisory board or any other body exercising equivalent supervisory functions and the persons referred to in Article L. 532-2(4) must devote sufficient time to carrying out the duties referred to in Article L. 533-29-1 and must allocate sufficient resources to managing all the significant risks to which the investment firm is exposed.

I.-Investment firms and investment holding companies with a branch or subsidiary that is a financial institution within the meaning of Article 4(1), point 26 of Regulation (EU) No 575/2013 in a Member State or in a third country other than the one in which they have been granted authorisation shall publish once a year, in the notes to their annual accounts or, where applicable, to their consolidated annual accounts or…

A decree in the Conseil d’Etat shall lay down the conditions for the application of this sub-section.