IBANK 12.1.3 Assessing Good Character

In assessing a person's good character, the firm's governing body must consider:

(a) whether the person has been convicted of a criminal offence, particularly an offence relating to dishonesty, fraud or financial crime;
(b) whether the person has been the subject of any adverse findings or any settlement in civil proceedings, particularly in connection with banking or other financial business, misconduct or fraud;
(c) whether the person, or any business in which the person is a controlling shareholder or has a controlling interest or exercises significant influence, has been investigated and disciplined or suspended by a regulatory or professional body, a court or tribunal, whether publicly or privately;
(d) whether the person has been the owner, manager or director of a company, partnership or other entity that has been refused registration, authorisation, membership or a licence to conduct trade, business or profession or has had that registration, authorisation, membership or licence revoked, withdrawn or terminated, resulting in the person being refused the right to carry on a trade, business or profession requiring such a licence, registration or other authorisation;
(e) whether the person has been a director, partner or otherwise involved in the management of a business that has gone into receivership, insolvency or compulsory liquidation while the person was connected with that organisation or within 1 year after the person's departure from the entity;
(f) whether the person has been dismissed, asked to resign, or resigned from employment or from a position of trust, fiduciary appointment or similar position because of questions about honesty and integrity;
(g) whether the person has ever been disqualified from acting as a director or serving in a managerial capacity because of wrongdoing;
(h) whether the person has not been fair, truthful and forthcoming in dealings with customers, superiors, auditors and regulatory authorities in the past and has been the subject of any justified complaint relating to regulated activities;
(i) whether the person demonstrates a readiness and willingness to comply with the requirements and standards of the regulatory system and other legal, regulatory, or professional requirements and standards; and
(j) anything else the firm considers relevant.
Derived from QFCRA RM/2015-2 (as from 1st January 2016).