PRU 6.4.1

An Authorised Person must:

(a) regularly monitor material Exposures to Operational Risk losses;
(b) ensure that appropriate reporting mechanisms are in place at its Governing Body, senior management, and business line levels to support effective management of the Authorised Person's Operational Risk; and
(c) immediately notify the Regulator of any material Operational Risk event including notification of any resulting financial impact, positive or negative, associated with such event.