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  • BR-1 BR-1 Reporting Requirements

    • BR-1.1 BR-1.1 General Requirements

      • Audited Financial Statements

        • BR-1.1.1

          As specified in Article 62 of the CBB Law, a licensee must submit to the CBB its final audited financial statements within 3 months of the licensee's financial year-end

          May 2011

        • BR-1.1.1A

          In accordance with Paragraphs EN-B.4.5 and EN-5.2.2, licensees must disclose in their annual audited financial statements the amount of any financial penalties paid to the CBB, together with a factual description of the reason(s) given by the CBB for the penalty. Licensees which fail to comply with this requirement will be required to make the disclosure in the annual audited financial statements of the subsequent year and will be subject to an enforcement action for non-disclosure.

          Added: October 2019

      • Suspicious Transaction Reports (STR)

        • BR-1.1.2

          As per Rule FC-5.2.4, licensees must report all suspicious transactions or attempted transactions to the Financial Intelligence Unit at the Ministry of Interior and to the Compliance Directorate at the CBB.

          May 2011

        • BR-1.1.3

          As per Rule FC-1.8.2 licensees must make a suspicious transaction report to the Compliance Directorate at the CBB and the Financial Intelligence Unit at the Ministry of Interior, if they are approached by a shell bank or an institution they suspect of being a shell bank.

          May 2011

        • BR-1.1.4

          As per Rule FC-5.2.3, if licensees suspect that a person has been engaged in money laundering or terrorism financing, or the activity concerned is regarded as suspicious, the licensee must report the fact promptly to the Financial Intelligence Unit at the Ministry of Interior and copy the Compliance Directorate at the CBB. The reports must be made using the STR Form and related instructions, included in Part B of Volume 5.

          May 2011

        • BR-1.1.5

          As per Section FC-8.1, when dealing with entities or persons domiciled in countries or territories which are identified by the FATF as being non-cooperative or notified to licensees from time to time by the CBB, whenever the licensee has suspicions about the transaction, these must be reported to the Financial Intelligence Unit at the Ministry of Interior and the Compliance Directorate at the CBB.

          May 2011

        • BR-1.1.6

          As per Rule FC-8.3.3, licensees must report to the Financial Intelligence Unit at the Ministry of Interior and the Compliance Directorate at the CBB, using the procedures contained in Section FC-5.2, details of any accounts or other dealings with persons and entities designated by the CBB as potentially linked to terrorist activity.

          May 2011

      • Reports Prepared by the MLRO

        • BR-1.1.7

          As per Rule FC-4.3.1(a) and (b), licensees must arrange for their MLRO to produce a report containing the number of internal reports made in accordance with Section FC-5.1, a breakdown of all the results of those internal reports and their outcomes for each segment of the licensee's business, and an analysis of whether controls or training need to be enhanced and a report, indicating the number of external reports made in accordance with Section FC-5.2 and, where a licensee has made an internal report but not made an external report, noting why no external report was made. These reports are to be submitted to the CBB by the 30th of April of the following year.

          May 2011

      • Report of Fraud or Attempted Fraud

        • BR-1.1.8

          Licensees must report any actual or attempted fraud incident (however small) to the appropriate authorities (including the CBB) (ref. FC-11.1).

          May 2011

      • Reports Required as per Volume 7 (CIU)

        • BR-1.1.9

          Licensees must comply with any reporting requirements applicable to them as stipulated in CBB Rulebook Volume 7 (CIU).

          Amended: October 2012
          May 2011

      • Reports Prepared by the External Auditor

        • BR-1.1.10

          As per Rule FC-4.3.1(d), licensees must arrange for their external auditor to produce a report as to the quality of the licensee's anti-money laundering procedures, systems and controls, and compliance with the AML Law and Module FC (Financial Crime) to be submitted to the CBB by the 30th of April of the following year.

          May 2011

      • Terrorist Financing

        • BR-1.1.11

          As per Rule FC-8.2.4, licensees must report to the Compliance Directorate at the CBB, details of:

          (a) Funds or other financial assets or economic resources they have with them which may be the subject of Article 1, paragraphs (c) and (d) of UNSCR 1373; and
          (b) All claims, whether actual or contingent, which the licensee has on persons and entities which may be the subject of Article 1, paragraphs (c) and (d) of UNSCR 1373.
          May 2011

      • Annual License Fee

        • BR-1.1.12

          Licensees must complete and submit Form ALF (Annual License Fee) to the CBB, no later than 30 April each year, together with the payment due under Rule AU-5.2.1.

          May 2011

      • Institutional Information System (IIS)

        • BR-1.1.13

          Licensees are required to complete online non-financial information related to their institution by accessing the CBB's institutional information system (IIS). Licensees must update the required information at least on a quarterly basis or when a significant change occurs in the non-financial information included in the IIS. If no information has changed during the quarter, the licensee must still access the IIS quarterly and confirm the information contained in the IIS. Licensees must ensure that they access the IIS within 20 calendar days from the end of the related quarter and either confirm or update the information contained in the IIS.

          Amended: January 2013
          May 2011

        • BR-1.1.14

          Licensees failing to comply with the requirements of Paragraph BR-1.1.13 or reporting inaccurate information are subject to financial penalties or other enforcement actions as outlined in Module (EN) Enforcement

          May 2011

      • Report on Controllers

        • BR-1.1.15

          In accordance with Paragraph GR-5.1.8, licensees must submit, within 3 months of their financial year-end, a report on their controllers which must identify all controllers of the licensee, as defined under Section GR-5.2.

          Added: April 2013

      • Report on Close Links

        • BR-1.1.16

          In accordance with Paragraph GR-6.1.3, licensees must submit within 3 months of their financial year-end, a report on their close links which must identify all undertakings closely linked to the licensee, as defined under Section GR-6.2.

          Added: April 2013