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  • Notification Requirements and Process

    • LR-1A.1.22

      Conventional bank licensees must immediately notify the CBB when an approved person, for whatever reason, ceases to hold the controlled function for which they have been approved (i.e. transferred to another function within the bank, or to another group entity, or else has resigned, been suspended or dismissed). The notification must include the reasons for the action taken.

      Amended: April 2014
      Added: October 2010

    • LR-1A.1.23

      [Rule moved to Paragraph BR-5.1.17 in April 2014.]

      Amended: April 2014
      Amended: April 2012
      Added: October 2010

    • LR-1A.1.24

      [This Paragraph was deleted in April 2014].

      Deleted: April 2014
      Added: October 2010

    • LR-1A.1.25

      If a controlled function falls vacant, the conventional bank licensee must appoint a permanent replacement (after obtaining CBB approval), within 120 calendar days of the vacancy occurring. Pending the appointment of a permanent replacement, the conventional bank licensee must make immediate interim arrangements to ensure continuity of the duties and responsibilities of the controlled function affected. These interim arrangements must be approved by the CBB.

      Added: October 2010

    • LR-1A-1.26

      Conventional bank licensees must immediately notify the CBB should they become aware of information that could reasonably be viewed as calling into question an approved person's compliance with CBB's 'fit and proper' requirement (see LR-1A.2).

      Added: October 2010