Regulatory Alerts2019-01-01
Banking Services (Financial Holding Companies) (Licensing Application Form) Supervisory Rules, 2019
The Supervisory Committee of Jamaica issued the Banking Services (Financial Holding Companies) (Licensing Application Form) Supervisory Rules, 2019, to regulate licensing applications for financial holding companies under the Banking Services Act. The rules mandate that applicants submit a standardized form containing detailed information on ownership structures, financial resources, governance, risk management, and crisis management plans. Compliance requires the provision of audited financial statements, organizational charts, and specific policies, with the authority empowered to request additional information or discontinue assessments for incomplete submissions.
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