• CTRL Division 3.1.D CTRL Division 3.1.D Governing bodies — individual members’ obligations

    • CTRL 3.1.22 Obligations of individual members of governing body

      A member of the governing body of an authorised firm:

      (a) must act in good faith, honestly and reasonably;
      (b) must exercise due care and diligence;
      (c) must act in the best interests of the firm and its customers, putting those interests ahead of his or her own interests;
      (d) must exercise independent judgment and objectivity in decision-making, taking due account of the interests of the firm and its customers; and
      (e) must not use his or her position to gain undue personal advantage or cause detriment to the firm.


      Derived from QFCRA RM/2020-4 (as from 1st July 2021)