SIO-5.1.1
In the course of undertaking regulated stablecoin offering service, a stablecoin issuer must:
Added: July 2025Dealing with clients and other stakeholders
(a) Ensure that the regulated activities are undertaken in a fair, orderly and transparent manner;(b) Stablecoin issuers must act honestly, fairly and professionally and communicate with their clients and prospective clients in a fair, clear and not misleading manner; and(c) Act with due skill, care and diligence in all dealings with clients;(d) Provide sufficient information to enable clients to make informed decisions when availing services offered to them;(e) Provide sufficient and timely documentation to clients to confirm that their transaction arrangements are in place and provide all necessary information about their rights and responsibilities;(f) Maintain fair treatment of clients through the lifetime of the client relationships, and ensure that clients are kept informed of important events and are not misled;(g) Ensure complaints from clients are dealt with fairly and promptly;(h) Not act contrary to the interests of its clients;(i) Stablecoin issuers must act in the best interests of their clients and treat them equally;(j) Take appropriate measures to safeguard any money and approved stablecoin handled on behalf of clients and maintain confidentiality of client information;Added: July 2025Risk management
(k) Manage any risks associated with its business and operations prudently;Added: July 2025Internal operating policies and procedures
(l) Have an operating manual and internal policies;Added: July 2025Compliance
(m) Maintain proper arrangements to enforce compliance with the CBB Law, Rules and Regulations and develop, implement, and adhere to a “compliance policy”, tailored to meet specific requirements associated with regulated stablecoin offering services. The compliance policy must reflect a clear comprehension and understanding of compliance responsibilities with respect to approved stablecoins;Added: July 2025Training and skills
(n) Ensure that all the employees are provided with the required education, qualifications and experience and they fully understand the rules and regulations of the CBB;Added: July 2025Record keeping
(o) Ensure that there are sufficient and appropriate records, books and systems in place to record all transactions and maintain an audit trail;Added: July 2025Shareholder meetings
(p) Provide to the CBB, for its review and comment, the draft agenda at least 5 business days prior to, the shareholders’ meetings (i.e. ordinary and extraordinary general assembly);(q) Ensure that any agenda items to be discussed or presented during the course of meetings which requires the CBB’s prior approval, have received the necessary approval, prior to the meeting taking place;(r) Invite a representative of the CBB to attend any shareholders’ meeting that will take place. The invitation must be provided to the CBB at least 5 business days prior to the meeting taking place;(s) Within one month of any shareholders meetings referred to in Paragraph SIO-5.1.1(o), provide to the CBB a copy of the minutes of the meeting.Added: July 2025
