Part 2: Standards For Business

4. Standards for business (G)

G: GEN (PDF 1.33MB), G: GEN (PDF 1.33MB), G: GEN (PDF 1.33MB), G: GEN (PDF 1.33MB), G:SCI (PDF 1.05MB)

(1) A regulated entity shall at all times:

  1. secure its customers’ interests;
  2. act with honesty and integrity;
  3. act with due skill, care and diligence;
  4. act in the best interests of customers and treat them fairly and professionally;
  5. ensure that all information it provides to customers is presented in a way that informs the customer effectively;
  6. control and manage it affairs and systems to counter the risks of financial abuse to customers to whom the regulated entity is providing financial services within the scope of its regulated activities;
  7. control and manage its affairs and systems sustainably, responsibly and in a sound and prudent manner;
  8. maintain adequate financial resources;
  9. engage and cooperate with the Bank and comparable competent authorities in good faith and without delay.

(2) The systems referred to in paragraph (1)(g) include a regulated entity’s risk management systems, internal control mechanisms and governance arrangements.