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LYC HEALTHCARE BERHAD 200401009170 (647673A)FIT & PROPER POLICY1.INTRODUCTIONRule 15.01A of the Ace Market Listing Requirements (AMLR) mandates a listed issuer to have a Fit and Proper policy for
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The fit and proper policy is a regulatory framework that ensures individuals in key positions of responsibility within an organization possess the necessary integrity, competence, and financial soundness to perform their roles effectively.
Individuals appointed to certain roles within regulated industries, such as financial institutions or insurance companies, are required to file the fit and proper policy.
To fill out the fit and proper policy, individuals must provide detailed information regarding their personal and professional background, qualifications, past conduct, and any relevant financial information as required by the regulatory authority.
The purpose of the fit and proper policy is to safeguard the integrity of the financial system by ensuring that key individuals are capable and trustworthy, thereby protecting the interests of clients and the organization.
The fit and proper policy typically requires reporting on personal identification details, professional qualifications, work history, any criminal records, and financial status.
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