Regulatory Alerts2021-11-11
Added · Updated
GEN.S.10.9 – Code of Conduct
NAMFISA issued Standard GEN.S.10.9 to require all registered financial institutions and intermediaries to establish and enforce a comprehensive Code of Conduct. The regulation mandates that boards, directors, officers, trustees, custodians, and employees adhere to core operational elements including conflict of interest policies, legal compliance, confidentiality, workplace practices, and proportional disciplinary sanctions. Additionally, it directs governing bodies to apply guiding principles of good faith, prudence, independence, and transparent stakeholder communication when exercising discretion over code implementation.
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