The FSA (UK) has published on 2006-11-24 a Policy Statement on ‘Organisational systems and controls – Common platform for firms’ which is a feed-back after the consultation on the paper CP06/09 published in May 2006.
The common platform sets out a single set of rules and guidance on systems and control measures for investment firms and credit institutions that are subject to MiFID or CRD (Capital Requirements Directive) or both. It encompasses issues such as: organisational requirements, employee and agents, compliance, internal audit, risk control, outsourcing, record keeping and, handling of conflicts of interest.
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