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MIE-4.1.5

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 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 the CBB's requirements, subjecting investors to significant risk of financial loss.
Added: July 2021