Regulatory Alerts2018-10-05
Consultation Paper on Joint Fit and Proper Requirements for Significant Owners of Financial Institutions
The Prudential Authority and the Financial Sector Conduct Authority have issued a consultation paper proposing a joint standard establishing fit and proper person requirements for significant owners of financial institutions under the Financial Sector Regulation Act, 2017. The document outlines the regulatory necessity, expected impact, and operational framework of the proposed standard alongside a draft text and submission template. Stakeholders must submit written comments by 16 November 2018 to designated FSCA and Reserve Bank email addresses for regulatory review.
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