EN-6.1.4
Past version: Effective from 01 Oct 2007 to 30 Sep 2010
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Examples of the types of compliance failings that may lead to the serving of a financial penalty notice are outlined in Part 11 of the CBB Law and may include (but are not limited to):
(a) Failures to address persistent delays and/or significant inaccuracies in regulatory reporting to the Central Bank;
(b) Repeated failures to respond to formal requests for information from the Central Bank, within the deadlines set;
(c) The submission of information to the Central Bank known to be false or misleading; and
(d) Major failures in maintaining adequate systems and controls in accordance with the Central Bank's requirements, subjecting depositors and other customers to significant risk of financial loss.
Added: October 2007