3.2.11

In determining the level of regulatory and supervisory oversight required for a specific firm, we will consider:

(a) the degree of home country regulation and supervision by the home regulator;
(b) the fitness and propriety of the head office and its Controllers;
(c) the strength of support, both financial and managerial, which the head office is capable of providing to the branch, taking into account the branch's activities and the adequacy of, among other things, the corporate governance framework and practices at the head office; and
(d) the risk and control mechanisms within the Branch itself.