Knowledge Base

Which body issued the ESMA35-36-1952 guidelines incorporated into French law by AMF position DOC-2021-04?

Banque de France

ESMA

AMF

European Commission

Which article of Delegated Regulation 2017/565 governs the compliance function?

Article 15

Article 22

Article 30

Article 45

What are the two main sources that supplement Article 22 of Delegated Regulation 2017/565 for the compliance function?

AMF position DOC-2021-04

ESMA guidelines ESMA35-36-1952

AMF General Regulation

Code monétaire et financier

What are the possible consequences of non-compliance risk for a portfolio management company?

Financial sanctions of up to 100 million euros or 10% of annual turnover

Engagement of civil or criminal liability

Reputational damage

Publication of AMF sanction decisions

The risk mapping must cover only financial and operational risks.

True

False

Internal audit must assess the effectiveness of the risk management framework over a cycle covering at least five years.

True

False

Categorize items by dragging them to the appropriate zones

Items to categorize:

Establishment of written policies and procedures

Definition of alert mechanisms with trigger thresholds

Creation of escalation procedures for breaches

Development of remediation plans

Categories:

Prevention

Detection

Correction

Definition of non-compliance risk

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