| 1. |
If a VASP conducts VA Activities using algorithms [in whole or in part], it must establish policies and procedures that enable its Board and Senior Management to have robust oversight and control over the design, testing, performance, deployment and ongoing maintenance of such algorithms. |
| 2. |
VASPs must maintain documentation and records of the design, testing, performance, deployment and ongoing maintenance of such algorithms, including but not limited to the logic used by the algorithm, any data or assumptions upon which decisions are based and any potential or actual biases in such data or assumptions and any results produced by the algorithm. |
| 3. |
VASPs must ensure that they have qualified and competent Staff to ensure the proper functioning and supervision of such algorithms on an ongoing basis.
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