fit and proper
Definition
An RSE licensee of a fund or trust is required to meet a minimum standard of fitness and proprietary. They are required to possess attributes such as character, competence, diligence, experience, honesty, integrity, judgment, educational or technical qualifications, and knowledge and skills relevant to the duties and responsibilities of an RSE licensee. Superannuation Prudential Practice Guide SPG 520 sets out the regulator’s view on the operation of the standard.
Related Terms