Regulatory Alerts2019-07-23
FSRA Joint Communication 3 of 2019: Draft Joint Standard on Fit and Proper Requirements for Significant Owners
The Prudential Authority and Financial Sector Conduct Authority jointly publish a proposed Joint Standard mandating fit and proper requirements for significant owners of financial institutions. This draft standard amends Prudential Standard GOI 4 and integrates feedback from an initial consultation, accompanied by separate exemption notices for each regulator. Submissions on the revised draft must be submitted via email by 4 September 2019 to finalize the regulatory framework under the Financial Sector Regulation Act.
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