Regulatory Alerts2010-09-14 | 29476Added · Updated
Application for a Director’s or Officer’s Permit Under Section 33(3) of the FIA, 2008
The Central Bank of Trinidad & Tobago requires licensed financial institutions to submit applications on behalf of directors or officers seeking permits to serve in other financial entities under Section 33(3) of the Financial Institutions Act, 2008. The Bank evaluates these applications based on business similarity, significant relationships, common shareholders, and board overextension, requiring documentation such as shareholder lists and directorship histories. A permit is not required for directors or officers serving within the same financial group, but the Bank may grant annual permits for cross-group roles if skills are in short supply and no conflict of interest exists.
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