Back Custom print Link Text Only Rich Text Print

  • Meaning of the Term "significant"

    • BR-2.2.7

      For the purposes of this chapter, in determining whether a matter is significant, an investment firm licensee should have regard to:

      (a) The size of any monetary loss or potential monetary loss to itself or its customers (either in terms of a single incident or group of similar or related incidents);
      (b) The risk of reputational loss to the investment firm licensee; and
      (c) Whether the incident or a pattern of incidents reflects weaknesses in the investment firm licensee's internal controls.
      Adopted: July 2007

    • BR-2.2.8

      In addition, if the investment firm licensee may have suffered significant financial losses as a result of the incident, or may suffer reputational loss, the CBB will wish to consider this and whether the incident suggests weaknesses in the investment firm licensee's internal controls.

      Adopted: July 2007