CTRL 4.1.3 Duties of individuals towards firm

Each member of an authorised firm’s senior management owes the following duties to the firm:

(a) to act for the firm’s benefit;
(b) to avoid any conflict between his or her interests and those of the firm (or, if it is not possible to avoid such a conflict, to mitigate it);
(c) to have, and to maintain, the knowledge and skills that are reasonably expected of an individual who holds a similar appointment, and carries out similar functions, in the senior management of the firm;
(d) to carry out his or her functions diligently.


Derived from QFCRA RM/2012-4 (as from 1st July 2013)
Amended by QFCRA RM/2020-4 (as from 1st July 2021)