Regulatory Alerts2013-04-19
Added · Updated
Notice No. 1/13 of April 19 on Corporate Governance Obligations of Financial Institutions
Notice No. 1/13 establishes corporate governance obligations for financial institutions authorized by the Banco Nacional de Angola, covering capital structure, risk management, organizational structure, remuneration policies, and conflict of interest prevention. The regulation defines key terms such as executive and independent administrators, qualified participations, and related parties, and mandates the implementation of specific governance models, internal control systems, and transparency disclosures. It requires administrative bodies to consist of an odd number of members with relevant expertise, establishes rules for executive committees and delegation of competencies, and sets forth principles for remuneration and conduct codes.