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)