Regulatory Alerts2019-03-11
Joint Communication 1 of 2019: Significant Owners Fit and Proper Requirements
The Financial Sector Conduct Authority and Prudential Authority issued this communication to update stakeholders on the draft Joint Standard regarding fit and proper requirements for significant owners under the Financial Sector Regulation Act, 2017. Following careful review of public feedback, the authorities are revising the draft standard and will republish it for a second round of consultation. In the interim, any changes to significant ownership must be formally notified to the authorities and will be evaluated on a case-by-case basis until the revised standard becomes effective.
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