The role of the Board, subject to the QFC Law and other applicable legislation, is to lead the QFCRA. 

Schedule 4 to the QFC Law outlines the powers and duties of the Board. 

In addition, the Board seeks to:

• Exercise functions of the QFCRA that, under the QFC Law or other QFC legislation, only the Board can exercise; 
• Make strategic decisions affecting the future operation of the QFCRA; 
• Oversee the executive management’s discharge of the day to day business of the QFCRA; 
• Set appropriate policies to establish a system of internal controls to manage risks to the QFCRA; 
• Maintain a sound system of financial control; 
• Take and record decisions which the Board or executive management consider to be of such significance as to require to be taken by the Board; 
• Maintain high-level relations with other appropriate organisations and authorities; and 
• Provide an accountability mechanism for decisions of the executive management, including through periodic reporting to the Board.