As indicated in Paragraph EN-B.4.5 and as required by Module PD (Public Disclosure), the CBB requires disclosure by those licensees subject to the requirements of Module PD, of any financial penalties served on them, together with a factual description of the reasons given by the CBB for applying the penalty. In addition, in accordance with Article 132 of the CBB Law, in the case of all insurance licensees, registered persons or approved persons, the CBB may publicise the issuance of a financial penalty notice, by way of its website or through other means, where there is a strong case that doing so would help achieve the CBB's supervisory objectives.