Reporting of Material Events and Incidents of Fraud
Published: Friday July 20th, 2012
Licensees are hereby required, effective immediately, pursuant to section 18(1) (h) of the Banks and Trust Companies Regulation Act, 2000, to immediately notify the Inspector of Banks and Trust Companies, if they become aware that a material event (for example, suspicious activities, incidents of fraud, or regulatory enforcement actions) which could have a significant adverse impact on the licensee’s safety and soundness or reputation, has or may have occurred or may occur in the foreseeable future.
