integration of the most recent amendments to the Banking Law, particularly in relation to the Companies and Associations Code
inclusion of references to Circular NBB_2021_28 transposing the EBA Guidelines on internal governance (EBA/GL/2021/05)
inclusion of references to Circular NBB_2021_27 transposing Guidelines EBA/GL/2021/06 on the assessment of suitability, and to the NBB’s Fit & Proper Manual
inclusion of references to the Regulation of the NBB of 9 November 2021 on the exercise of external functions by managers and persons responsible for independent control functions of regulated companies (approved by Royal Decree of 8 February 2022) and to Communication NBB_2022_19 on the same subject
inclusion of references to Circular NBB_2019_19 transposing Guidelines EBA/GL/2019/02 on outsourcing arrangements
inclusion of references to Circular NBB_2021_30 transposing Guidelines EBA/GL/2021/04 on remuneration policy
inclusion of references to Circular NBB_2021_18 transposing Guidelines EBA/GL/2020/06 on loan origination and monitoring
inclusion of references to the EBA Guidelines on the role and responsibilities of the AMLCO (EBA/GL/2022/05)
inclusion of references to Circular NBB_2021_16 on special mechanisms and to Circular NBB_2021_17 on fiscal prevention policy
inclusion of references to Communication NBB_2019_15 on the NBB’s expectations regarding the content of the statutory governing body’s report on the assessment of the compliance function, and to Communication NBB_2019_29 on the modification of the date for the transmission of compliance reports
inclusion of new points on IT security (including recommendations on the tasks of the Chief Security Information Officer) and on governance at group level
clarification of prudential expectations regarding the term “independent director”, the policies to be established and the role of the independent control functions
addition of recommendations on the integration of environmental and climate risk in the training programme for directors and the tasks of the risk management function
addition of a chapter on group context
update of the governance memorandum outline
October 2018
inclusion of references to Guidelines EBA/GL/2017/11 on internal governance
inclusion of references to Guidelines EBA/GL/2017/12 on the assessment of the suitability of members of the management body and key function holders
inclusion of a reference to the SSM Guide to fit and proper assessments
replacement of references to Circular NBB_2013_02 by references to the Manual on assessment of fitness and propriety introduced by Circular NBB_2018_25
additions relating to amendments to the Banking Law introduced by the Law of 21 November 2017 and the Law of 5 December 2017
addition of Circulars NBB_2018_13 and NBB_2018_14 on payment services and incident reporting
addition of Circular NBB_2018_20 on outsourcing to cloud service providers
addition of the Regulation of the NBB of 6 February 2018 on expertise of the persons responsible for the compliance function (with accompanying explanatory note), Communication NBB_2018_05 of 8 February 2018 on the report of the statutory governing body on assessment of the compliance function, and Communication FSMA_2018_05 of 8 May 2018 on continuing training for compliance officers
September 2017
addition of Circular NBB_2016_44 on remuneration policies
addition of a point on loans to managers (Article 72 of the Banking Law)
update of the external guidelines on the application of Article 62 of the Banking Law
inclusion of references to the Royal Decree and the Circular on the exercise of external functions
update of Articles 27 to 33 of the Banking Law on audit committees
update of the title of the Banking Law (to include stockbroking firms)
addition of Circular NBB_2017_03 and Communication NBB_2017_02 on shareholding
