Our risk-based approach to regulation focuses on those areas which present the greatest risk to our regulatory objectives. To counter risk, we:
- Maintain constructive relationships with our authorised firms, including their directors and senior management, who bear the primary responsibility for meeting their firms’ prudential and compliance responsibilities;
- Engage with other regulators to ensure that international efforts at supervision and regulation are coordinated and coherent and to avoid undue duplication;
- Monitor enhancements to the international supervisory standards laid down by the Basel Committee; the International Association of Insurance Supervisors; the International Organization of Securities Commissions, and the Financial Action Task Force;
- Conduct periodic risk assessments of firms using methodology drawn from our extensive international supervisory experience; and
- Initiate a number of thematic reviews, in addition to ongoing supervisory coverage of individual firms.