Regulations Governing Financial Technology Innovative Experimentation Article 8

The term "potential risks have been assessed and relevant response measures prepared" under Subparagraph 4, Article 7 of the Act means the following:Perform a complete assessment of the biggest risk that may be brought by the innovative experimentation to the financial market, participants and applicant.Set up an independent and effective risk management mechanism, including risk patterns generated by the experimentation, risk monitoring and control mechanism (including frequency) and response mechanism.Establish procedures for submitting periodic reports and reports in case of a risk event to the competent authority in accordance with the supervision and administration provisions under Article 20 and Article 21 herein.