The Act of 2010 is amended by the insertion of the following Part after Part 2:

"PART 2A POWERS OF BANK IN RELATION TO FINANCIAL SERVICE PROVIDERS

17A. Business standards

(1) A regulated financial service provider shall comply with any standards prescribed by the Bank under subsection (2) (in this section referred to as the 'business standards').

(2) The Bank may make regulations prescribing standards for the purpose of ensuring that in the conduct of its affairs a regulated financial service provider -

(a) acts in the best interests of customers and of the integrity of the market,

(b) acts honestly, fairly and professionally, and

(c) acts with due skill, care and diligence.

(3) The business standards shall, in particular, include standards requiring that in the conduct of its affairs the regulated financial service provider -

(a) does not mislead a customer as to the advantages or disadvantages of any financial service,

(b) maintains adequate financial resources,

(c) controls and manages its affairs and systems (including risk management systems, internal control mechanisms and governance arrangements) sustainably, responsibly, and in a sound and prudent manner,