4:104 A sound, diligent and consistent risk culture should be a key element of effective risk management by stockbroking firms and enable them to take sound and informed decisions. A sound risk culture includes, but is not necessarily limited to, “tone at the top”, diversity and inclusion, accountability, an environment of open communication and effective challenge, and the absence of risk-taking incentives. The risk management function and the compliance function should play an active role in implementing a sound risk culture.  For more information on this subject, please see paragraphs 85 to 89 of EBA/GL/2021/14.