Tasks of managers in the context of risk management

(1) The managers of the securities institution bear overall responsibility for the risk strategy and the internal principles of the securities institution for dealing with risks. They approve and regularly review the strategies and internal policies on the securities institution's risk appetite and on the management, monitoring and mitigation of risks to which the securities institution is, or could be, exposed, unless the management or supervisory body performs these tasks under section 44. The macroeconomic environment and the business cycle of the securities institution must be taken into account.
(2) The managers of the securities institution must devote sufficient time to the performance of their tasks under subsection (1). They must provide sufficient resources for the management of all material risks to which the securities institution is exposed.
(3) Securities institutions must ensure that the managers 1. are informed, through internal reporting, of all significant risks of the securities institution, of all internal policies on dealing with risks, and of all changes to those policies; and 2. have access to all information on the risks to which the securities institution is, or could be, exposed.