EN-5.2.4
Part 11 of the CBB Law outlines instances where financial penalties may be imposed. Examples of the types of compliance failings that may lead to the serving of a financial penalty notice include (but are not limited to):
(a) Failures to address persistent delays and/or significant inaccuracies in regulatory reporting to the CBB;
(b) Repeated failures to respond to formal requests for information from the CBB, within the deadlines set;
(c) The submission of information to the CBB known to be false or misleading; and
(d) Major failures in maintaining adequate systems and controls in accordance with CBB's requirements, subjecting investors and other customers to significant risk of financial loss.
October 2010