FP-3.1 Notification Requirements
FP-3.1.1
Licensees must notify the CBB, within 5 working days, if they become aware of information that indicates that a board director or a person heading a senior management function does not or no longer meets the ‘fit and proper’ requirements of the licensee or those required by the CBB under this Module, e.g. criminal offence being committed, or when the licensee becomes aware of persistent failure to repay personal debts or the occurrence of credit default.
Added: March 2025FP-3.1.2
Licensees must notify the CBB as at the end of each quarter, any new appointments to a senior management function (other than those that are approved by the CBB). The notification must be made through the institutional information system (IIS), and must include the official name of the person, the title and position and telephone and email contact details of such person.
Added: March 2025FP-3.1.3
Licensees must notify the CBB when a board director or person holding senior management functions has resigned, been suspended or dismissed, or when disciplinary action has been taken against such person, or when a member of senior management is transferred to another function within the licensee, or else to another group entity. Such notification must be made within 5 working days of the acceptance of the resignation letter, decision of suspension or dismissal, transfer etc.
Added: March 2025FP-3.1.4
If a person who was approved by the CBB to undertake a certain function was transferred by the licensee to another position requiring the CBB’s approval, then the CBB approval of such transfer is required.
Added: March 2025
