Up for consideration by our Monetary Board is a consumer protection framework that outlines the modes of behavior and practices that should be adhered to by BSP-supervised institutions. Responsible market conduct: a credit perspective A central tenet of the financial consumer protection framework is the aspect of responsible market conduct. This, extends beyond consumer protection and is a critical pillar of our market.
Based on the suggestions made in the Discussion Paper and the public feedback on these suggestions, the Reserve Bank issued instructions1 earlier this year regarding the Chair and meetings of the board, composition of certain committees of the board, age, tenure and remuneration of directors, and appointment of the whole-time directors (WTDs). 15.