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  • Meaning of the Term "significant"

    • BR-2.2.7

      For the purposes of this chapter, in determining whether a matter is significant, a 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 licensee; and
      (c) Whether the incident or a pattern of incidents reflects weaknesses in the licensee's internal controls.
      January 2013

    • BR-2.2.8

      In addition, if the 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 is indicative of weaknesses in the licensee's internal controls.

      January 2013