Regulatory AlertsAPG 520 Fit and Proper
The Australian Prudential Regulation Authority issued this practice guide to assist authorised deposit-taking institutions and non-operating holding companies in complying with Prudential Standard CPS 520 regarding the fitness and propriety of responsible persons. The document outlines the criteria for assessing character, competence, and experience, while defining the scope of responsible persons and the required components of a Fit and Proper Policy. It further details the assessment processes, legal considerations, and APRA's enforcement powers to direct the removal of individuals who fail to meet these standards.
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