The UK Banking Standards Board (BSB) has published a statement of good practice on the assessment of fitness and propriety (F&P) within the UK’s Certification Regime (CR), and more detailed supporting guidance on implementation for banks and building societies.

The BSB statement of good practice takes the form of a high-level set of principles surrounding the assessment of F&P and is intended to assist firms in using the CR as a means to raise professional standards and ensure that F&P assessments are fair, consistent and transparent.

The BSB supporting guidance is practical guidance, which represents a pooling of knowledge and experience by BSB member firms and contains:

• comprehensive definitions of each element of F&P: honesty and integrity, reputation, competence and capability, and financial soundness;
• potential sources of information that could be taken into account when carrying out the assessments; and
• an example assessment record template to support consistent recording of the outcome of F&P decisions across firms.

See Copies of;

The statement of good practice:  http://bit.ly/2mcDerE

The supporting guidance:  http://bit.ly/2mcBej5

The press release:  http://bit.ly/2lvKTNL