Regulatory Alerts2024-01-01
Minimum Requirements for the Management of Culture and Conduct Risk for Supervised Entities
The Reserve Bank of Fiji issued this policy to establish minimum requirements for supervised entities to manage culture and conduct risk effectively. It mandates that boards and senior management implement frameworks promoting ethical behavior, fair customer treatment, and clear individual accountability through defined core management functions. The document requires entities to integrate conduct risk into their overall risk management, align incentive systems with cultural standards, and maintain robust monitoring and escalation mechanisms.
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