Regulatory Alerts2022-02-27
Applying for a non-bank deposit takers licence
The regulator mandates that all non-bank deposit takers engaging in regulated deposit-taking activities must obtain a licence under the Non-bank Deposit Takers Act 2013. Applicants are required to submit detailed applications including suitability notices for directors and senior officers, financial information, and data on corporate or individual controllers holding significant influence. The process also necessitates prior written consent for any changes in ownership that alter a person's control stake or board appointment power within the licensed entity.
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