As different appointments and designations entail different responsibilities, the Fit and Proper Guidelines would be applied in a manner and to the extent that is suitable to the relevant circumstances. The onus is on each appointed SFA/FAA representative to establish that it or he/she is a fit and proper person rather than for MAS to show otherwise.

Understand:

• The key fit and proper requirements
• The due diligence needed prior to appointment
• The conflicts assessment needed prior to appointment
• The on-going measures to be taken

Module 1: Why Need Fit and Proper Requirements?

• Regulator’s Concern and Approach

Module 2: Understanding Fit and Proper Requirements

• Regulator’s Expectations
• Who is Covered?
• Key Criteria

Module 3: Due Diligence Needed Prior to Appointment

• Responsibility of Financial Institutions
• Self-Declaration
• Probity Checks

Module 4: Competence, Capability, and Conflicts of Interest Assessment

• Competence and Capability
• Conflicts of Interest

Module 5: On-Going Measures to Be Taken

• Periodic Self-Declaration
• Regular Checks

Assessment