GR-5.3 GR-5.3 Assessment Criteria
GR-5.3.1
In assessing whether a
licensee's close links may prevent the effective supervision of thelicensee , or otherwise poses no undue risks to thelicensee , the CBB takes into account the following:(a) Whether the CBB will receive adequate information from thelicensee , and those with whom thelicensee hasclose links , to enable it to determine whether thelicensee is complying with CBB requirements;(b) The structure and geographical spread of thelicensee , its group and other undertakings with which it hasclose links , and whether this might hinder the provision of adequate and reliable flows of information to the CBB, for instance because of operations in territories which restrict the free flow of information for supervisory purposes; and(c) Whether it is possible to assess with confidence the overall financial position of the group at any particular time, and whether there are factors that might hinder this, such as group members having different financial year ends or auditors, or the corporate structure being unnecessarily complex and opaque.January 2013