2.1.1 Governing Body’s responsibilities

(1) An Authorised Firm's Governing Body must consider whether the minimum Capital Resources and professional indemnity insurance required by these PRU(INT) Rules are adequate to ensure that there is no significant risk that the firm’s liabilities cannot be met as they fall due. The firm must obtain additional Capital Resources and professional indemnity insurance if its Governing Body considers that the minimum required does not adequately reflect the risks of its business.

(2) The Governing Body is also responsible for:

1. (a) ensuring that the management of the firm’s financial resources (including the firm's Capital Resources, liquid assets and professional indemnity insurance) is part of the firm’s overall risk management, and is aligned with the nature, scale and complexity of its business and its risk profile;
2. (b) ensuring that the firm complies with these PRU(INT) Rules; and
3. (c) monitoring the adequacy and appropriateness of the firm’s systems and controls and the firm’s compliance with them.