Policy clause
"Any breach is reported to the committee within three business days": how to write it, test it and evidence it
A breach-reporting clause sets a deadline for telling the committee, not a limit on the portfolio. In Acclimetry a breach opens a case at once, with response and resolution clocks and escalation. An obligation triggered by the breach can evidence the report itself, and a missed deadline becomes a breach of its own.
Any breach of these guidelines will be reported to the investment committee within three business days of its discovery.
manual_obligationQuestions to settle before it can be tested
- Business days: case clocks run in wall-clock hours and obligation tasks in calendar days, so the deadline must be restated. Three calendar days is strict over a weekend; five is generous midweek.
- From when: the trade, the first monitoring result, or the moment someone noticed? Acclimetry dates the case from the first observation.
- Which breaches: passive as well as active? Warnings and not-evaluated results? Name them.
- Reported how: an email to the chair, or a paper at the next meeting? The attestation should ask for the evidence.
As a testable rule
A manual obligation triggered by a rule condition, a result status of breach, raises a task due three days later. Its fields ask for the date reported and the report; an overdue task opens a case of its own. The breach's own case escalates in parallel on the organisation's service-level clock.
A testable wording
Any breach of a hard limit, active or passive, will be reported to the chair of the investment committee within 72 hours. The clock starts at the first monitoring result that shows the breach.
See escalating and closing a breach and the breach register template.
Worked example
A report task raised by Thursday's breach fell due on Sunday 4 October; still pending on the 6th, it is two days overdue.
Rule template:manual_obligation obligationId: 6aaf00000000000000000040warnWithinDays: 1
| Obligation | Frequency | Latest task | Next due |
|---|---|---|---|
| Breach report to the investment committee | ad_hoc | pending, due 4 October 2026 |
| Group | Status | Value | Bounds | Headroom to the hard bound | Code |
|---|---|---|---|---|---|
| Breach report to the investment committee | Breach | 2 | – | – | OBLIGATION_OVERDUE |
OBLIGATION_OVERDUE: The obligation is past its due date without an approved task, or its latest task failed or was rejected.
Computed at build time by the Acclimetry rule engine (backend commit 8197063); the same code runs in the product.
What each monitoring run records
The breach's case records when it was first seen, its owner, escalations, comments and actions. The attestation stores when and how the committee was told, with the reviewer's approval and timestamps. Together they show the deadline was kept, or exactly when it was not.