¿Why Fit & Proper?

The "fit and proper" criteria (or "fit and proper test") make reference to requirements for evaluating managers, directors and shareholders. Particularly, the ability to fulfill their duties ("fitness") as well as their integrity and suitability ("propriety") are examined.


This concept is a standard in corporate governance of financial institutions. Most financial supervision organisms include these requirements in their regulatory frameworks to ensure that institutions have a prudent and solid management. Senior management, directors and shareholders who hold influence over the entity's operations must meet the "fit and proper" criteria.


Fitness requirements take into consideration formal qualifications, previous experience and career. On the other hand, integrity and suitability analyze aspects such as criminal records, financial position, civil actions against third parties, sanctions applied by regulators of other similar industries, questionable business practices and rejection or expulsion from professional associations.


Fit & Proper LLC was born in 2003 inspired by this concept, with the goal of providing advice on issues related to the financial system and staying current on best practices, always respecting the principle on which it built its foundations and growing in association with fit and proper professionals.


More information about the fit and proper criteria can be found in the following documents of the Committee on Banking Supervision (BCBS):


For a description of the practices in relation to the fit and proper criteria refer to the following document:


Additionally, the following list can be consulted for complementary information about fit and proper criteria: