Regulatory Alerts2022-01-01
Minimum Requirements for Corporate Governance for the Fiji National Provident Fund
The Reserve Bank of Fiji issues binding corporate governance standards for the Fiji National Provident Fund to enforce fiduciary accountability and prudent institutional management. The directive requires the Fund’s board and senior leadership to establish a formal governance framework, implement fit-and-proper assessments, create mandatory board committees, and adhere to strict term limits, attendance quotas, and conflict-of-interest protocols. It further mandates comprehensive oversight of subsidiaries, robust risk and compliance controls, and the timely submission of all governance policies and board minutes to the central bank for regulatory supervision.
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