Revised Laws of Saint Lucia (2021)

47.   Prudential guidelines

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    (1)   The Authority in administering the provisions of this Act may issue prudential guidelines and related orders.

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    (2)   Without limiting the generality of subsection (1) the Authority may issue prudential guidelines and related orders respecting—

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      (a)     policies, practices and procedures for evaluating the quality of assets;

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      (b)     policies, procedures and systems for identifying, monitoring and controlling transfer risk, market risk, operational risk and such other risks as the Authority shall specify;

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      (c)     corporate governance;

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      (d)     auditors;

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      (e)     procedures to be adopted by licensees and the Authority; and

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      (f)     anti-money laundering and combating the financing of terrorism matters.