Fit and Proper Requirements

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.... (1) The GIC Unit shall ensure that the entity and its principal officer, compliance officer, directors/ partners/designated partners, and controlling shareholders are 'fit and proper' persons, at all times. (2) For the purpose of sub-regulation (1), a person shall be deemed to be a 'fit and proper' if,- (i). such a person has a record of fairness and integrity, including bu....

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.... by a statutory body or financial regulatory authority and is pending; (e) an order has been passed against the person for malfeasance; (f) the person has been declared an undischarged insolvent; (g) An order, restraining, prohibiting or debarring the person from accessing, providing or dealing in financial product (s) or financial service (s), has been passed by any reg....