CIMA’s new rule on corporate governance and rule and statement of guidance on internal controls come into effect on 14 October 2023 and applies to all entities regulated by CIMA, including mutual and private funds.
CIMA’s new rule on corporate governance and rule and guidance on internal controls (together, the “New Measures”), comes into effect on 14 October 2023. The New Measures apply to entities regulated by CIMA. In May 2023 (here) and June 2023 (here), Appleby’s regulatory team published a two-part publication series covering the New Measures. We are currently working with clients across various regulated sectors to assist them comply with the New Measures by carrying out gap analysis exercises of their existing frameworks e.g., policies, processes and procedures in order to identify and close any compliance gaps.
Feel free to reach out to a member of our regulatory team if you need assistance with any of the following:
- undertaking a gap analysis to comply with the New Measures;
- reviewing and updating policies and procedures (e.g., conflicts of interest, succession plan, remuneration policy, outsourcing policy) as they apply to the New Measures;
- providing training and advice on the New Measures to board and senior management; and
- provision of full or partial board support services.
Disclaimer
This information is provided for general information purposes only and is not intended to constitute legal advice. For specific regulatory advice, please contact any member of our regulatory team.
