• 3.3 3.3 Supervision of Representative Offices

    • 3.3.1

      As part of our risk-based approach to supervising firms we may undertake periodic visits to Representative Offices and may also include Representative Offices in our thematic visits.

    • 3.3.2

      Onsite visits to Representative Offices are likely to focus on issues including:

      (a) confirming that activities undertaken by the Representative Office are allowed under its Financial Services Permission;
      (b) reviewing the adequacy of its systems and controls to comply with its responsibilities;
      (c) reviewing the material distributed by the Representative Office to ensure it is clear, fair and not misleading;
      (d) any solvency concerns with the head office or Group; and
      (e) the firm's disclosure of its regulated status.

    • 3.3.3

      The onsite visit is likely to include interviews with the Principal Representative and a review of relevant records.