4:128 The statutory governing body is responsible for establishing, approving and overseeing the implementation and maintenance of effective policies to identify, assess, manage and mitigate or prevent actual and potential conflicts between the interests of the firm and the individual interests of staff, including members of the statutory governing body, which could adversely influence the performance of their duties and responsibilities and the firm’s activities.

4:129 The conflicts of interest policy for staff should aim to identify conflicts of interest on the part of staff, including the interests of their closest family members.

4:130 For more information on the conflicts of interest policy for staff, please see paragraphs 98 to 119 of EBA/GL/2021/14.

4:131 The EBA Guidelines also contain a series of recommendations regarding “loans and other transactions with members of the management body and their related parties”.  These provisions should be read in conjunction with Article 83 of the Brokerage Supervision Act and Circular NBB_2017_21, which govern the granting of loans, credit and guarantees to members of the statutory governing body and their related parties. Please see paragraph 3.3 of this manual for more information on this subject.