Section 38

The holder of a capital markets services licence must take the following steps regarding risk management -

(a} to establish and maintain effective risk management policies and procedures which identify the risks relating to its activities, processes and systems, and where appropriate, set the level of risk it tolerates;

{b)

to adopt effective arrangements, processes and mechanisms to manage the risks relating to their activities, processes and systems, in light of its level of risk tolerance;

198

12th.

2015

{c)

to monitor -

(i}

the adequacy and effectiveness of its risk management policies and procedures;