Which of the following criteria is NOT a cumulative criterion for ensuring the independence of the compliance function according to Article 321-32 of the AMF General Regulation?
Sufficient authority to enforce its recommendations
Adequate resources (human and technical)
Proven expertise of staff
Proximity to operational teams
Which document specifies the requirements for the RCCI to obtain their professional card?
AMF Position DOC-2014-06
AMF Instruction DOC-2008-03
AMF General Regulation Article 321-32
Financial Transparency Act
What is the first step in establishing an independent compliance function according to the AMF?
Establish a budget for the compliance function
Appoint a Compliance and Internal Control Officer (RCCI)
Implement regular training for staff
Obtain international compliance certification
What is the consequence if the budget allocated to the compliance function is significantly reduced?
The RCCI may adjust the budget without justification
A written justified report must be submitted to the governing bodies
The reduction is automatic if assets under management decrease
The RCCI must resign
The RCCI may report hierarchically to a director who performs operational activities in a portfolio management company.
True
False
Persons participating in the compliance function may be involved in the execution of the services they oversee.
True
False
Duration of the oral examination for the RCCI professional card