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EN-7.2.2

When used as an enforcement tool, the criteria used by the CBB in assessing whether to seek the cancellation or amendment of a license include:

(a) The extent to which the interests of the market, its users and those who have a claim on the licenseeG would be best served by the cancellation or amendment of the license;
(b) The extent to which other supervisory penalties could reasonably be expected to achieve the CBB's desired supervisory objectives;
(c) The extent to which the licenseeG has contravened the conditions of its license and/or the CBB Law, including the seriousness, duration and/or frequency of the contravention(s) concerned, and the extent to which the contraventions reflect more widespread or systemic weaknesses in controls and/or management;
(d) The extent to which the licenseeG has been involved in financial crime or other criminal conduct; and
(e) The licenseeG 's past compliance record and conduct following the contravention (s).
October 2010
 Versions
(1 Version)
 
Oct 1 2010 onwards
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