EN-B.4 EN-B.4 Publicity
EN-B.4.1
The CBB will not as a matter of general policy publicise individual cases when it uses the measures described in Chapters EN-2 to EN-5, and EN-8. However, in such cases the CBB may inform (where relevant) an
authorised person's external auditors and — in the case of licensees with overseas operations — relevant overseas regulators.Amended: January 2007EN-B.4.2
In exceptional circumstances, the CBB may decide to publicise individual cases when the measures set out in Chapters EN-2 to EN-5 and EN-8 are used, where there is a strong case that doing so would help achieve the CBB's supervisory objectives. In such instances, the CBB will usually allow the licensee or person concerned the opportunity to make representations to the CBB before a public statement is issued.
Amended: January 2007EN-B.4.3
Without prejudice to the above policy, the CBB may from time to time publish aggregate information on its use of enforcement measures, without identifying the licensees or persons concerned.
Amended: January 2007EN-B.4.4
By their nature, the penalties in Chapters EN-6, EN-7, and EN-9 are public acts, once applied. The CBB will in these instances generally issue a public statement explaining the circumstances of the case.
Amended: January 2007EN-B.4.5
Investment firm licensees subject to a CBB enforcement measure (with the exception of formal requests for information) must inform their external auditor of the fact.Amended: October 2012
Amended: January 2007EN-B.4.6
Investment firm licensees must disclose in their annual audited financial statements any financial penalties served on them, together with a factual description of the reasons given by the Central Bank for applying the penalty. In addition, the CBB may publicise the issuance of a financial penalty notice, where there is a strong case that doing so would help achieve the CBB's supervisory objectives, as mentioned in Article 132 of the pre-mentioned Law.Added: October 2019
