For the majority of transactions affected by error in the shared management areas (e.g. agriculture and cohesion), the Member States authorities had sufficient information available to have detected and corrected the errors.

Home Member State competent authorities shall require that every credit institution have robust governance arrangements, which include a clear organisational structure with well-defined, transparent and consistent lines of responsibility, effective processes to identify, manage, monitor and report the risks it is or might be exposed to, adequate internal control mechanisms, including sound administration and accounting procedures, and remuneration policies and practices that are consistent with and promote sound and effective risk management’.

4. The competent authorities shall grant an authorisation only if, taking into account the need to ensure the sound and prudent management of a payment institution, the payment institution has robust governance arrangements for its payment services business, which include a clear organisational structure with well-defined, transparent and consistent lines of responsibility, effective procedures to identify, manage, monitor and report the risks to which it is or might be exposed, and adequate internal control mechanisms, including sound administrative and accounting procedures; those arrangements, procedures and mechanisms shall be compr ...[+++]ehensive and proportionate to the nature, scale and complexity of the payment services provided by the payment institution.

In particular, rigorous procedures should be provided for with regard to matters such as compliance, risk management, complaints handling, personal transactions, outsourcing and the identification, management and disclosure of conflicts of interest.

In the May 1999 report, the commissioner of the environment and sustainable development dealt with a number of issues relating to identifying, managing, and reducing pesticide risks.

In fact the American regime, because of the high level of liability tort legislation, and so on, often catches a mistake much more quickly than we do in Canada.