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  • HC-A.3 HC-A.3 Module History

    • Evolution of the Module

      • HC-A.3.1

        This Module was first issued in July 2004, as part of the initial release of Volume 1 of the CBB Rulebook. It was dated July 2004. Any material changes that have subsequently been made to this Module are annotated with the calendar quarter date in which the change was made: Chapter UG 3 provides further details on Rulebook maintenance and version control.

        October 07

      • HC-A.3.2

        When the CBB replaced the BMA in September 2006, the provisions of this Module remained in force. Volume 1 was updated in October 2007 to reflect the switch to the CBB; however, new calendar quarter dates were only issued where the update necessitated changes to actual requirements.

        October 07

      • HC-A.3.3

        A list of recent changes made to this Module is shown below:

        Module Ref. Change Date Description of Changes
        HC-1.5 01/04/05 Transparency requirements formalized.
        HC-1.6 01/04/05 Notification requirements formalized.
        HC-1.1, 1.2 & HC-1.4 01/10/05 High-level controls enhanced.
        HC-1.5 01/10/05 New SPV requirements.
        HC-3.1 – HC-3.2 01/10/05 Revised compliance function requirements.
        HC-1.5.3, HC-1.5.5 & HC-4.1 01/01/06 Revised notification requirements for SPVs and dealing staff.
        HC-2, HC-3 and HC-4 01/07/06 Requirements relating to controllers moved to Module GR; Remaining requirements relating to 'fit and proper' re-drafted to ensure consistency with other Rulebook Volumes (without changing the substance of the previous 'fit and proper' requirements); Requirements relating to dealers incorporated into the 'fit and proper' requirements.
        HC-1.2 & HC-1.3 01/10/07 Reordering of Paragraphs to separate Rules from Guidance.
        HC-A.1 10/2007 New Rule HC-A.1.5 introduced, categorising this Module as a Directive.
        HC-1.3.5 04/2008 Mandatory requirement for at least one independent non-executive director
        HC-2.1.16 01/2009 Amendment to notification process for "approved person" status
        HC-1.5.3 01/2009 Requirement to appoint a permanent replacement within 120 days when a controlled function falls vacant.
        HC-2.1.2 10/2009 CBB prior approval requirement for appointment of Deputy MLRO

      • HC-A.3.4

        The contents in this Module are effective from July 2004 or the dates depicted in HC-A.3.3. Section HC-1.3 is effective from October 2007.

        October 07