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PIB A5.8.15 Guidance
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An Authorised FirmG should take reasonable steps to:
a. allocate responsibility for the management of its UnderwritingG and sub-underwriting business;
b. allocate adequate resources to monitor and control its UnderwritingG and sub-underwriting business;
c. satisfy itself that its systems to monitor ExposureG to CounterpartiesG will calculate, revise and update its ExposureG to each CounterpartyG arising from its UnderwritingG or sub-underwriting business;
d. satisfy itself of the suitability of each person who performs functions for it in connection with the firm's UnderwritingG and sub-underwriting business having regard to the person's skill and experience; and
e. satisfy itself that its procedures and controls to monitor and manage its UnderwritingG business address, on an on-going basis, the capacity of sub-underwriters to meet sub-underwriting commitments.
Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]