Page 14 - Annual Report 2016 EN

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GOVERNANCE Role of the Board

The role of the Board is to lead the Regulatory Authority in line with
The Regulatory Authority operates under a governance frame- the QFC Law and its amendments and other applicable legislation.
work designed to ensure transparency, integrity, independence, The Board sets the strategic direction for the Regulatory Authority;
accountability and fairness. It is committed to demonstrating best oversees the executive management’s discharge of the day-to-
practice and leadership in this area. The Governance Resolution day business of the Regulatory Authority; sets policies to manage
of the Board of the Regulatory Authority sets out the policy of the risks to the Regulatory Authority’s operations and the achievement
Board on various governance matters, reflecting the intention that of its regulatory objectives; and seeks regular assurance that the
the business of the Regulatory Authority is conducted in accor- system of internal controls is effective in managing risks.
dance with its regulatory objectives, applicable laws and principles
of sound governance.

Governance chart

Council of Ministers

QFC Regulatory QFC Civil and
Tribunal Commercial Court
QFC Authority QFC Regulatory Authority

Board Board

Executive team Executive team

Policy and Enforcement Supervision and Corporate
Division Authorisation Division Services Division