PROPOSED AMENDMENTS TO FIT AND PROPER REQUIREMENTS FOR FSPs AND REPRESENTATIVES
The Registrar of Financial Services Providers has published for public comment proposed amendments to the fit and proper requirements applicable to financial services providers, their key individuals and representatives.
Significant proposed amendments include changes to requirements relating to personal character, competency (experience, qualifications and regulatory exams), continuous professional development, operational ability and financial soundness.
The closing date for written submissions on the proposed amendments is 15 March 2016.
For further information, please refer to the relevant draft Board Notice, the invitation to comment and the explanatory memorandum available on the FSB website.
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