If An Authorised Firm becomes aware after it has received approval to use own-estimate haircuts that it no longer complies with any of the requirements in Rules
[PIB A4.3.17] to [PIB A4.3.23] or any of the conditions or restrictions imposed by the DFSA pursuant to [PIB Rule A4.3.17] or no longer meets the Rules, it must
(a) inform the DFSA as soon as practicable;
(b) assess the effect of the situation in terms of the risk posed to the Authorised Firm;
(c) prepare a plan to rectify the situation and inform the DFSA of its plan as soon as practicable; and
(d) undertake prompt corrective action within a reasonable time in accordance with the plan prepared pursuant to (c).
Derived from RM111/2012
(Made 15th October 2012). [VER20/12-12]