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FIT AND PROPER POLICY ABN: 42 053 498 472 ADSL#: 223988 REEL#: L0003049 USER #: R1067385 Version: 5 Document number: G04 003 1 100110 Approval date: 21 April 2015 Approved by: Board Review period:

How to fill out fit and proper policy

How to Fill out Fit and Proper Policy:

1. Begin by thoroughly understanding the requirements and guidelines set forth by the regulatory body or organization that mandates the fit and proper policy.
2. Gather all relevant information needed to demonstrate the suitability and competency of individuals within the organization. This may include personal details, qualifications, certifications, and relevant work experience.
3. Consult with the appropriate departments or individuals within the organization to obtain the necessary information for each section of the fit and proper policy form. This may involve collaborating with HR, legal, compliance, and other relevant stakeholders.
4. Provide accurate and complete information for each section of the fit and proper policy form. Ensure that all details are up to date, including any recent changes in qualifications, role, or responsibilities.
5. Pay attention to the specific requirements outlined in the fit and proper policy. This may include demonstrating competence in a particular field, having the necessary experience, or completing any required training or continuing professional development.
6. Review the filled-out fit and proper policy form for any errors or inconsistencies. Double-check all the information provided and ensure its accuracy. It may be helpful to have a trusted colleague or supervisor review the form as well.
7. Sign and date the form in the designated areas, indicating your agreement to abide by the fit and proper policy and confirming the accuracy of the information provided.

Who Needs Fit and Proper Policy:

1. Organizations in regulated industries, such as financial services, insurance, or healthcare, often require their employees, executives, and individuals in key positions to comply with fit and proper policies.
2. Regulatory bodies or governing authorities, such as central banks, financial services authorities, or professional bodies, may require individuals in certain roles to meet fit and proper requirements.
3. Fit and proper policies are essential for ensuring the competency, integrity, and suitability of individuals holding influential or decision-making positions within an organization. It helps maintain the reputation, credibility, and trustworthiness of the organization and mitigates potential risks.
4. Fit and proper policies may also be necessary for organizations seeking external investors, partnerships, or contracts, as proof of the suitability and trustworthiness of their key personnel.

Therefore, both organizations operating in regulated industries and individuals in key positions within those organizations need to be familiar with and comply with fit and proper policies.

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What is fit and proper policy?

Fit and proper policy refers to a set of guidelines and criteria used to determine if an individual is suitable and eligible to hold a specific position or perform certain activities within an organization.

Who is required to file fit and proper policy?

Certain professionals like financial advisors, insurance agents, and individuals in key positions within financial institutions are often required to file fit and proper policy.

How to fill out fit and proper policy?

To fill out fit and proper policy, individuals typically need to provide information about their qualifications, experience, background, and any potential conflicts of interest.

What is the purpose of fit and proper policy?

The purpose of fit and proper policy is to ensure that individuals working in sensitive or regulated positions meet certain standards of competency, integrity, and professionalism.

What information must be reported on fit and proper policy?

Information such as personal details, qualifications, work experience, background checks, and any disciplinary actions must be reported on fit and proper policy.

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