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SCHEDULE 5E+W+SSystems and processes requirement

Risk managementE+W+S

9.  Whether there are systems and processes—E+W+S

(a)for identifying, managing and monitoring operational, financial, regulatory and compliance risks;

(b)for identifying, managing and monitoring risks in respect of the soundness of the design of the scheme;

(c)for recording and documenting risks in an appropriate and durable format;

(d)for ensuring that risks are managed in a timely manner by persons with the appropriate skills, knowledge and resources;

(e)for informing the trustees about risks that have arisen and the steps being taken to manage them.

Commencement Information

I1Sch. 5 para. 9 in force at 1.8.2022, see reg. 1(3)