This Module expands on certain high-level requirements contained in various High-Level Standards Modules. In particular, Condition 5 of the Licensing Conditions (see Section AU-2.5) notes that financing company licensees must maintain sufficient liquid assets to meet their obligations as they fall due in the normal course of business. In addition, Principle 9 of the Principles of Business (see Paragraph PB-1.1.9) refers to the requirement to maintain adequate resources for financing company licensees to run their business in an orderly manner. Principle 10 of the Principles of Business (see Paragraph PB-1.1.10) also notes the requirement for licensees to maintain systems and controls to manage the level of risk inherent in their business and ensure compliance with the CBB Rulebook.
January 2014