S.L. 370.5 Art. 12Governance arrangements concerning the safeguarding of customer assets.

(1) The subject person shall appoint a single officer of sufficient skill and authority with specific responsibility for matters relating to the compliance by the subject person with its obligations regarding the safeguarding of customer instruments and money.

(2) The subject persons shall decide, whilst ensuring full compliance with Commission Delegated Directive, whether the appointed officer is to be dedicated solely to this task or whether the officer can discharge responsibilities effectively whilst having additional responsibilities.