3 paragraphs found
… FS71 requires limited assurance on risk management systems (RMS) to ensure ongoing compliance … ASIC expects that the RMS will specifically deal with the risk that the Licensee’s financial resources will not be adequate to ensure that they are able to carry on their business in compliance with their licence obligations. RMS …
… effectively throughout the period. Having regard to the risk of inadequate financial resources, these procedures may … of the RMS and the process to identify material risks; Consideration as to whether a formal documented RMS … will depend on the size, nature and complexity of the business; and Obtaining periodic calculations of compliance …
… be based on the complexity of the Licensee, nature of their business, risk assessment and level of assurance required. When …