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Peer review of key functions : supervisory practices and application in assessing key functions

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      <subfield code="a">Peer review of key functions</subfield>
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      <subfield code="a">This peer review assesses how NCAs supervise and determine whether an insurer's setting of key functions fulfils the legal requirements of SII with a particular emphasis on proportionality. The peer review examines practices regarding: combining key functions under one holder; combining key functions with AMSB membership or with carrying out operational tasks; subordination of one key function under another key function; split of one key function among several holders; assessment of the fitness of key function holders; and outsourcing of key functions</subfield>
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