Suitability of directors, senior managers and persons responsible for independent control functions
Legal and regulatory framework:
- Banking Law: Articles 3, 83°, 19, 20, 21, 27-31, 60, 61, 62, 62/1, 72, 73, 86, 212 and 335, § 1, 3°
- NBB Regulation:
- Royal Decree of 8 February 2022 approving the Regulation of the NBB of 9 November 2021 on the exercise of external functions by managers and persons responsible for independent control functions of regulated companies
- Relevant thematic NBB circulars:
- Circular NBB_2021_28 of 16 November 2021 transposing Guidelines EBA/GL/2021/05 of 2 July 2021 on internal governance
- Circular NBB_2021_27 of 16 November 2021 transposing Guidelines EBA/GL/2021/06 of 2 July 2021 on the assessment of the suitability of members of the management body and key function holders
- Communication NBB_2022_19 of 12 July 2022 on the exercise of external functions by managers and persons responsible for independent control functions of regulated companies
- Circular NBB_2018_25 of 18 September 2018 on the suitability of directors, members of the management committee, responsible persons of independent control functions and senior managers of financial institutions (circular introducing the NBB’s Fit & Proper Manual)
- Circular NBB_2017_21 of 7 July 2017 on loans, credits and guarantees to managers, shareholders and related persons
- International reference documents:
- SSM Guide to fit and proper assessments of December 2021
- Guidelines EBA/GL/2021/05 of 2 July 2021 on internal governance
- Guidelines EBA/GL/2021/06 of 2 July 2021 on the assessment of the suitability of members of the management body and key function holders
- Basel Committee on Banking Supervision (BCBS) Principles: principles 2 and 4