Approach to supervision
All banks licensed by the Commission are subject to ongoing supervision by the Banking and Insurance Division which includes:
- Onsite inspections at the licensee’s place of business;
- Desk-based analysis of regulatory and statistical returns and other relevant data;
- The submission of annual audited financial statements;
- Approval by the Commission of firms and individuals who act as controllers, directors or managers of the licensee’s business;
- Notification of significant events or changes within the business;
- Participation in thematic studies relating to banking business and the financial sector, as requested by the Commission; and
- Attendance by the Commission at bank supervisory colleges;
- Appointment by the Commission of a Skilled Person.