Regulatory Alerts2021-10-21
Fit and Proper Persons - Meeting the Criteria
The Guernsey Financial Services Commission requires all individuals in supervised roles to meet the Fit and Proper standard under Regulatory Laws and Minimum Criteria for Licensing. Assessments evaluate competence, probity, solvency, and business practices through questionnaires, firm notifications, and third-party due diligence. Licensed entities must implement processes to verify these standards and promptly notify the regulator of any issues affecting an individual's fitness.
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