Back Custom print Link Text Only Rich Text Print

  • HC-A.2 HC-A.2 Module History

    • Evolution of the Module

      • HC-A.2.1

        This Module was first issued in October 2010. 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.

      • HC-A.2.2

        A list of recent changes made to this Module is provided below:

        Module Ref. Change Date Description of Changes
        HC-A.1.4 01/2011 Clarified legal basis.
        Module HC 04/2016 Module updated to be in line, where applicable, to other Volumes of the CBB Rulebook.
        HC-2.3 and HC-2.4 07/2016 Clarified application of Rules for overseas licensees.
        HC-1.1.5 01/2020 Amended Paragraph on policy and procedures approval.
        HC-4.2 04/2020 Added a new Section on Standard for all Remuneration.
        HC-4.2.1 04/2020 Added a new Paragraph on KPIs compliance with AML/CFT requirements.

    • Superseded Requirements

      • HC-A.2.3

        This Module supersedes the following provisions contained in circulars or other regulatory requirements:

        Document Ref. Document Subject
        BSD/D(111)3179 Regarding nomination of Senior Liaison Officer.
        BC/11/98 Appointment of Approved Persons
        October 2010

    • Monitoring and Enforcement of Module HC

      • HC-A.2.4

        Disclosure and transparency are underlying principles of Module HC. Disclosure is crucial to allow outside monitoring of functions effectively. This Module looks to a combined monitoring system relying on the Board, the money changer licensee's shareholders and the CBB.

        April 2016

      • HC-A.2.5

        It is the Board's responsibility to see to the accuracy and completeness of the money changer licensee's corporate governance guidelines and compliance with Module HC. Failure to comply with this Module is subject to enforcement measures as outlined in Module EN (Enforcement).

        April 2016