Corporate Governance Flashcards
(1 cards)
1
Q
what is the definition of fit and proper?
A
Members of the management body must be at all times of sufficiently good repute and possess sufficient knowledge,skills and experience to perform their duties(“fit &proper”)
Competent authorities have the power to remove members that do not fulfil these requirements (loss of good repute)
Institutions shall devote adequate human and financial resources to the induction and training of members of the management body
