Regulatory Alerts2008-06-04 | CD-SIBOIF-536-1-JUN4-2008Added · Updated
Norm on Minimum Content of the Code of Conduct for Directors, Managers, Internal Auditors and Employees
This regulation establishes the minimum parameters and guidelines for the code of conduct that supervised financial institutions must adopt to promote sound financial practices and integrity. It mandates that the board of directors approve the code, a communication policy, and sanctions for non-compliance, while requiring written notification to the Superintendent for dismissals of senior management or internal auditors. The code must incorporate principles of integrity, competence, transparency, conflict of interest avoidance, and confidentiality, applicable to all officials including directors, managers, internal auditors, and employees.
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