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Effective from Dec 01 2021 - Nov 30 2021 To view other versions open the versions tab on the right
The Debt-Based Crowdfunding Company shall:
1-
Establish a written policy including a clear business strategy for risk management, approved and annually updated by its board of directors. The risk management policy shall take into account all relevant types of risks and how to deal with them. Such policy shall cover the analysis of at least the following risks:
a.
Credit risk.
b.
Market risk.
c.
Operational risk.
d.
Legal risk.
e.
Reputational risk.
f.
Technological risk.
g.
Fraud risk.
h.
Information security risk.
i.
Money laundering and terrorist financing risk.
j.
Outsourcing risk.
2-
Develop appropriate procedures to identify, assess, manage, monitor, communicate, and report risks. These procedures must be included in a comprehensive risk management framework that ensures:
a.
Early and comprehensive identification of risks.
b.
Assessment of correlations between risks.
c.
Immediate coordination with the board of directors, senior management and responsible staff, when needed.
d.
Immediate communication of identified risks to stakeholders.
