Fit and proper person declaration
Regulated entities who wish to trade or use NVES units to manage their obligations need to have an account in the NVES Unit Registry (the unit registry).
To open a unit registry account, regulated entities must complete a fit and proper person (FPP) declaration. The FPP declaration is one of the controls used to ensure the integrity of the unit registry, support compliance and manage risks to market participants.
Who needs to complete the declaration?
The fit and proper person declaration requirement applies to:
- The regulated entity (the business unit that is the legal entity holding the account).
- The authorised representative applying on behalf of the entity in the NVES Portal.
What the declaration involves
The declaration is a series of yes or no questions about matters that may affect whether an entity or individual is considered fit and proper.
A guide has been developed to understand what questions to expect when applying to open a unit registry account for an entity, the timeframe under consideration and why this information is considered relevant.
Download our fit and proper person guide (Word 257 KB | PDF 218 KB) to assist with completing your declaration.
