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  • PRU 8.2.1 PRU 8.2.1

    An Authorised Person in Category 1, 2 or 5 that is a member of a Group must establish and maintain systems and controls for the purpose of:

    (a) monitoring the effect on the Authorised Person of:
    (i) its relationship with other members of its Group;
    (ii) its membership in its Group; and
    (iii) the activities of other members of its Group;
    (b) monitoring compliance with Financial Group supervision requirements below, including systems for the production of relevant data;
    (c) monitoring funding within the Group; and
    (d) monitoring compliance with Financial Group reporting requirements.

    • Guidance

      For the purposes of the above requirement, an Authorised Person may take into account its position within its Group. For instance, it would be reasonable for a small Authorised Person within a larger Group to place some reliance on its Parent to ensure that appropriate systems and controls are in place.