Regulatory Alerts2020-01-01
Minimum Requirements for Corporate Governance of Licensed Entities
The Reserve Bank of Fiji issued this policy to establish minimum corporate governance standards for licensed commercial banks, credit institutions, insurance companies, and securities entities. It mandates the implementation of a comprehensive governance framework that defines the distinct responsibilities of the board and senior management while requiring independent control functions. The document specifies strict requirements for board composition, including independence thresholds and fit-and-proper criteria, alongside detailed protocols for board operations, appointments, and ethical conduct.
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