Ordinance
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Art. 9 Risk management
(Art. 8 para. 3 FinMIA) 1 With regard to risk management, the financial market infrastructure must have a concept for the integrated identification, measurement, management and monitoring of risks, particularly with respect to:
2 It must have instruments in place and create incentives in order to ensure that participants can continuously manage and limit the risks arising for themselves or for the financial market infrastructure. 3 Insofar as the financial market infrastructure has indirect participants and these are identifiable, it must also identify, measure, control and monitor the risks posed to the financial market infrastructure by these parties. 4 The internal documentation of the financial market infrastructure on passing a resolution and the monitoring of transactions associated with the risks should be designed in such a way that allows the audit firm to make a reliable assessment with respect to the business activity. 5 The financial market infrastructure shall ensure an effective internal control system which, among other things, guarantees compliance with legal and internal company rules and regulations (compliance function). 6 The internal audit function must submit a report to the body with responsibility for governance, supervision and control or to one of its committees. It must have sufficient resources as well as unrestricted audit rights. |