• Voluntary Surrender of a License

    • CRA-1.3.1

      In accordance with Article 50 of the CBB Law, licensees wishing to cease carrying out all the approved regulated services, must obtain the CBB's written approval, before ceasing their activities. All such requests must be made in writing to the Director, Capital Markets Supervision, setting out in full the reasons for the request and how the business is to be wound up.

      Amended: April 2023
      Added: April 2019

    • CRA-1.3.2

      Licensees must satisfy the CBB that their clients' interests are to be safeguarded during and after the proposed cancellation.

      Added: April 2019

    • CRA-1.3.3

      The CBB will approve a request for cancellation of license by a licensee where there is no outstanding regulatory concerns and client interests would not be prejudiced. A voluntary surrender will only be allowed to take effect once the licensee, in the opinion of the CBB, has discharged all its regulatory obligations towards clients.

      Amended: April 2023
      Added: April 2019