(1) The Regulator may require an Authorised Person to:
(a) form a Financial Group with any other entity within its Group; or
(b) include within its Financial Group any other entity within its Group;
where the Regulator considers it necessary or desirable to do so in the interests of effective supervision of the Authorised Person.
(2) An Authorised Person may, for the purposes of this Section, exclude from its Financial Group any entity the inclusion of which would be misleading or inappropriate for the purposes of Financial Group supervision, provided the Authorised Person has obtained the Regulator's prior written approval.
(3) An Authorised Person must provide to the Regulator, if requested, any of the following information in relation to its Group or Financial Group:
(a) details as to the entities within the Group or Financial Group;
(b) the structure of the Group or Financial Group; and
(c) the systems and controls in place to manage Group Risk.
|Amended on December 20, 2018|