Implementation Rules for the Internal Audit and Internal Control System of Specialized Electronic Payment Institutions Article 35

A specialized electronic payment institution shall establish a risk management unit and regularly submit risk management reports to the board of directors. Upon identifying a significant risk exposure that might adversely affect its financial, or business status, or compliance with applicable acts and regulations, the specialized electronic payment institution shall take immediate and adequate measures and submit a report to the board of directors.The risk management unit under the preceding paragraph may be replaced by a designated management unit.