New products and significant changes
Legal and regulatory framework:
- Banking Law: Article 21
- Relevant thematic NBB circulars:
- International reference documents:
- Guidelines EBA/GL/2021/05 of 2 July 2021 on internal governance => paragraphs 163 to 168
Institutions should have in place a well-documented new product approval policy, approved by the statutory governing body, that addresses the development of new markets, products and services, and significant changes to existing ones, as well as exceptional transactions.
For further information, please refer to paragraphs 163 to 168 of Guidelines EBA/GL/2021/05.