• Adequacy of systems and controls

    • MKT 8.1.2

      (1) A Reporting Entity must have appropriate systems and controls to be able to demonstrate compliance with the requirements applicable to it including those set out in the FSMR and these Rules.
      (2) The Board of the Reporting Entity, and in the case of a Reporting Entity of a Listed Fund, its Governing Body, must ensure that that there are adequate systems and controls established and maintained on an on-going basis to meet the requirement in (1).
      (3) Without limiting the generality of the requirement in (1), the systems and controls of a Reporting Entity must include:
      (a) mechanisms to monitor compliance with the requirements relating to Corporate Governance, Connected Persons, Restricted Persons, or Related Parties as is relevant, and control of Inside Information; and
      (b) where any records are required to be maintained, maintenance of such records at least for a period of six years, unless a shorter period is prescribed.
      (4) The Regulator may, where it considers appropriate to do so, require a Reporting Entity to produce third party confirmation on the adequacy of systems and controls established and maintained by a Reporting Entity.