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  • SIO-14.4 Formal Request for Information

    • Procedure for request of Information

      • SIO-14.4.1

        As part of its on-going supervision, under Articles 111, 113, 114, and 123 of the CBB Law, the CBB may specifically request information or temporary reporting from a stablecoin issuer or individual. Recipients of such requests are bound to respond to such requests under the terms of their license.

        Added: July 2025

      • SIO-14.4.2

        Henceforward, to clearly identify such requests, they will always be made in writing, under signature of a Director or more senior official of the CBB; will include the statement “This is a formal request for information as defined in section SIO-14.4 of the CBB Rulebook”; and will state the deadline by which the information is to be communicated to the CBB.

        Added: July 2025

      • SIO-14.4.3

        Failure to respond to such formal requests within the deadline set will be viewed as a significant breach of regulatory requirements and will incur a formal warning or other enforcement measure, specified under Articles 163 and 170 of the CBB Law, as decided by the CBB depending on the circumstances of the case.

        Added: July 2025

      • SIO-14.4.4

        The deadline set in the request will vary depending on individual circumstances but will in all cases be reasonable. A recipient may submit a case for an extension to the deadline, providing the request is made before the original deadline has passed. The CBB will respond before the original deadline has passed; if it fails to do so, then the requested extension will apply. Whilst waiting for a reply, the recipient must assume that the original deadline will apply.

        Added: July 2025

      • SIO-14.4.5

        The above procedures do not prevent individual CBB supervisors making oral requests for information as part of their day-to-day interaction with stablecoin issuers. The CBB expects stablecoin issuers to maintain their cooperative response to such requests; however, in the interests of clarity, the CBB will not view failures to respond to oral requests as a breach of regulatory requirements.

        Added: July 2025