• PRU 6.1 PRU 6.1 Application

    • PRU 6.1.1 PRU 6.1.1

      This Chapter applies to an Authorised Person as follows:

      (a) Sections 6.1 to 6.9 apply to an Authorised Person in any Category;
      (b) Sections 6.10 and 6.11 apply only to an Authorised Person in Category 1, 2, 3A or 5;
      (c) Section 6.12 applies only to an Authorised Person in Category 3B, 3C or 4 which undertakes one or more of the following Regulated Activities:
      (i) Arranging Credit;
      (ii) Arranging Deals in Investments;
      (iii) Managing Assets;
      (iv) Advising on Investments or Credit;
      (v) Managing a Collective Investment Fund;
      (vi) Providing Custody;
      (vii) Insurance Intermediation;
      (viii) Insurance Management;
      (ix) Managing a Profit Sharing Investment Account (unrestricted);
      (x) Providing Trust Services;
      (xi) Acting as the Administrator of a Collective Investment Fund;
      (xii) Acting as the Trustee of an Investment Trust;
      (xiii) Operating a Multilateral Trading Facility or Organised Trading Facility; or
      (xiv) Providing Money Services; or
      (xv) Operating a Private Financing Platform.

      • Guidance

        The GEN rules contain Rules and Guidance in relation to Systems and Controls, some of which may relate to the management of Operational Risk. The Corporate Governance rules in the GEN rules set out overarching requirements in relation to Board responsibilities, including risk management. The Rules and Guidance in this Section seek to complement the aforementioned requirements, while providing for a framework to address matters which directly relate to Operational Risk management.