Regulatory Alerts2022-06-08
Roadmap for the Development and Implementation of the Omni-CBR
The Financial Sector Conduct Authority has issued a roadmap mandating financial institutions to adopt a unified, cross-sectoral Conduct of Business Return (Omni-CBR) that standardizes conduct risk indicators and customer outcome metrics. The regulator outlines a phased, multi-year implementation schedule spanning June 2022 to June 2026, transitioning entities from sector-specific statutory reporting to a harmonized quarterly submission model. This data-driven framework utilizes customized templates, international benchmarks, and sector-specific adjustments to enhance proactive supervision and ensure consistent fair customer treatment across the financial sector.
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