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  • Notification Requirements and Process

    • C4-1.3.17

      Category 4 investment firms must immediately notify the CBB when:

      (a) An approved person ceases to hold a controlled function together with an explanation as to the reasons why. In such cases, their approved person status is automatically withdrawn by the CBB; or
      (b) In case of any material change to the information provided in the application submitted for an approved person.
      Added: January 2022

    • C4-1.3.18

      If a controlled function falls vacant, the category 4 investment firm 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 licensee must make immediate interim arrangements to ensure continuity of the duties and responsibilities of the controlled function affected, provided that such arrangements do not pose a conflict of duties. These interim arrangements must be approved by the CBB.

      Added: January 2022