Regulatory Alerts2014-12-15
Regulations amending governance, risk management and control at credit institutions
Finansinspektionen issued regulations amending its guidelines on governance, risk management, and control for credit institutions to align with EU directives. The rules mandate the establishment of risk committees for significant institutions, require comprehensive recovery plans, and impose strict due diligence and monitoring obligations for material outsourcing arrangements. Additionally, the amendments introduce new requirements for board member training, diversity policies, and enhanced internal audit and control function reporting.
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