CHAPTER VIRISK MANAGEMENT
(Article 51(1) of Directive 2009/65/EC)
SECTION 1Risk management policy and risk measurement
Article 39Assessment, monitoring and review of risk management policy
1
Member States shall require management companies to assess, monitor and periodically review:
a
the adequacy and effectiveness of the risk management policy and of the arrangements, processes and techniques referred to in Articles 40 and 41;
b
the level of compliance by the management company with the risk management policy and with arrangements, processes and techniques referred to in Articles 40 and 41;
c
the adequacy and effectiveness of measures taken to address any deficiencies in the performance of the risk management process.
2
Member States shall require management companies to notify to competent authorities of their home Member State any material changes to the risk management process.
3
Members States shall ensure that requirements laid down in paragraph 1 are subject to review by the competent authorities of the management company’s home Member State on an on-going basis and accordingly when granting authorisation.