Regulation 2007
Ordonnance Souveraine n° 1.284 du 10 septembre 2007 portant application de la loi n° 1.338 du 7 septembre 2007 sur les activités financières (Sovereign Ordinance 1,284 implementing Law 1,338)
Plain-English summary
Sets internal-control, resources, delegation and record-keeping rules for approved firms. Articles 4-5 govern delegation, art. 12-2 requires secure electronic recording systems, art. 12-5 requires recordings kept for at least five years, and art. 9-3 requires internal-control certification for the internal-control officer.
Who it applies to
Capital Markets · Asset & Wealth Management
Topics
Cybersecurity & IT Risk Market Integrity & Securities Operational Risk & Outsourcing
Obligations arising from this law or regulation
| Obligation | Timing | Regulator | Source | Detail |
|---|---|---|---|---|
| Delegation and outsourcing conditions for approved financial firms | Ongoing | CCAF | source | |
Art. 4 bars delegation of all of a firm's activities and keeps the delegating company responsible for delegated activities. Art. 5 requires the delegation to specify its type, scope, duration, the delegate's resources, remuneration, controls and revocation conditions. The approval file must list delegations (art. 3) and the annual report must flag changes (art. 22). |
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| No obligations match these filters. | ||||
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