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Guidance

A Recognised Body should have systems for identifying, and drawing to the attention of its Senior Management and Governing Body, situations where its commercial interests conflict, or may potentially conflict, with the proper performance of its Regulatory Functions. This would enable the Recognised Body to take appropriate steps to ensure that such conflicts do not adversely affect the proper performance by the Recognised Body of its Regulatory Functions. In particular, the Recognised Body should ensure that adequate human, financial and other resources (both in terms of quantity and quality) are provided for risk management, regulatory, compliance and other similar functions.