What is the primary document outlining the structure and functioning of RIBO?

The primary document outlining the structure and functioning of RIBO is indeed the RIBO Act. This Act serves as the foundational legislation that establishes the organization, its purpose, authority, and governing framework. It lays down the core principles and regulatory structure, ensuring that the functioning of RIBO aligns with legal standards and industry practices.

Understanding the RIBO Act is crucial because it details the roles and responsibilities of various participants within the organization, delineates the powers of the board, and gives an overarching view of regulatory expectations. This central authority is essential for maintaining the integrity and accountability of the insurance brokers operating under RIBO’s jurisdiction. The Act is complemented by other documents like the Code of Ethics and the Guidelines, but these serve more specific roles within the framework established by the Act itself.