Regulatory Alerts2017-08-24 | 29489Fitness and Propriety of Directors and Officers
The financial regulator issued binding guidelines requiring directors and officers in the banking and insurance sectors to meet strict fitness and propriety criteria. These standards mandate proven competence, financial soundness, integrity, and an unblemished regulatory history prior to appointment. Regulated entities must continuously assess their leadership against these benchmarks, triggering disqualification or sanctions for non-compliance.
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