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  • Evolution of Module

    • GR-A.2.1

      This Module was first issued in April 2006, by the BMA, as part of the first phase of Volume 4 (Investment Business) to be released. Any material changes that have subsequently been made to this Module are annotated with the calendar quarter date in which the change was made: Chapter UG-3 provides further details on Rulebook maintenance and version control.

      Amended: July 2007

    • GR-A.2.2

      When the CBB replaced the BMA in September 2006, the provisions of this Module remained in force. Volume 4 was updated in July 2007 to reflect the switch to the CBB; however, new calendar quarter dates were only issued where the update necessitated changes to actual requirements.

      Adopted: July 2007

    • GR-A.2.3

      A list of recent changes made to this Module is detailed in the table below:

      Module Ref. Change Date Description of Changes
      GR-A.1.2 07/2007 New Rule, classifying this Module as a Directive.
      GR-B.1.2 07/2007 Reference to GR-10 in table removed, to reflect deletion of this Chapter (the contents of which have been moved to Module AU).
      GR-4 07/2007 Amendments made to align the Chapter with the requirements of the CBB Law.
      GR-5.1 07/2007 Minor changes to align controller requirements with the CBB Law.
      GR-5.2 07/2007 Clarification of definition of controller.
      GR-5.3 07/2007 Clarification of criteria for assessing suitability of controllers.
      GR-5.4 07/2007 Alignment of procedures for approving controllers with CBB Law.
      GR-7 07/2007 Amendments made to align the Chapter with the requirements of the CBB Law.
      GR-1.2.1 01/2008 Clarified the record retention period for customer and transaction records in line with Article 60 of the CBB Law.
      GR-9.1.1A 04/2008 Added Guidance concerning limitations on indemnification coverage.
      GR-B.1 10/2009 Corrected to reflect applicability of Chapter GR-3.
      GR-5.3.3 10/2009 Paragraph changed from Guidance to Rule.
      GR-5.3.5 10/2009 Paragraph changed from Guidance to Rule.
      GR-5.4.2 10/2009 Amended to read notices of refusal.
      GR-7.1 10/2009 Updated to include additional requirements for cessation of business.
      GR-9 10/2009 Amended heading to read Key Provisions
      GR-9.1.1 10/2009 Amended to include reference to Form PIIR.
      GR-9.1.4 10/2009 New rule added regarding professional indemnity insurance needs of licensees.
      GR-9.1.7 10/2009 Prior approval changed to prior notification
      GR-1 07/2010 Updated and amended to include cross reference and new paragraph regarding books and records.
      GR-2.2 07/2010 New section added regarding publication of documents by the licensee.
      GR-3.1.1 07/2010 Updated to include requirement for dividends.
      GR-A.1.2 01/2011 Clarified legal basis.
      GR-3.1.3 01/2011 Expanded guidance dealing with dividends.
      GR-5.1.4A 01/2011 Added a new Rule related to changes in shareholding when legal person is a controller.
      GR-5.1.5 01/2011 Clarified rule.
      GR-5.3.6 01/2011 Corrected minor typo.
      GR-10 04/2011 Added a new Chapter on Subsidiaries, Branches and Representative Offices.
      GR-3.1.3 10/2011 Clarified guidance Paragraph on CBB's non-objection for dividends to be in line with other Volumes of the CBB Rulebook.
      GR-5.3 10/2011 Amended to be in line with other Volumes of the CBB rulebook and to reflect the issuance of Resolution No.(43) of 2011.
      GR-7 10/2011 Clarified language on cessation of business to be in line with other Volumes of the CBB Rulebook.
      GR-1.3.1(d) 01/2012 Added reference to reports from the compliance officer.
      GR-1.1.3 04/2013 Corrected reference to 'transaction' records.
      GR-4.1.12 04/2013 Corrected cross reference to CBB Law.
      GR-B.1.2 07/2013 Added the reference to Chapter GR-10 under the scope of application.
      GR-10.1 07/2013 Various corrections and amendments.
      GR-B.1.2 and GR-8 10/2013 The Chapter on appointed representatives was deleted.
      GR-A.1.2, GR-B.1.2 and GR-5 10/2015 Updated to reflect issuance of Resolution No. (27) of 2015 governing control in investment firm licensees.
      GR-2.2 04/2016 Clarified Rule on publication of documents by the licensee.
      GR-10.1.8B 10/2016 Added reference to Module BR
      GR-5.1.5 01/2017 Consistency of notification timeline rule on controllers with other Volumes of the CBB Rulebook.
      GR-1.2.1 07/2017 Amended paragraph according to the Legislative Decree No. (28) of 2002.
      GR-1.2.2 07/2017 Deleted paragraph.
      GR-3.1.3 10/2017 Added additional requirement to submit when requesting no-objection letter for propose dividend.
      GR-5.1.1A 04/2019 Added a new Paragraph on exposure to controllers.
      GR-5.1.1B 04/2019 Added a new Paragraph on exposure to controllers.
      GR-3.1.1 07/2019 Amended Paragraph.
      GR-1.2.1 01/2020 Amended Paragraph.
      GR-7.1.8 04/2020 Amended Paragraph.
      GR-2.1.1 01/2022 Amended Paragraph on licensee legal and corporate name.
      GR-2.1.3 01/2022 Amended Paragraph on change in licensee legal name.