Regulatory Alerts2020-06-03 | 29629Added · Updated
Approval of Compliance and Alternate Compliance Officers for Financial Institutions Regulated by Multiple Supervisory Authorities
The Central Bank of Trinidad and Tobago mandates that financial institutions regulated by more than one supervisory authority must simultaneously submit applications for the approval of Compliance Officers and the designation or approval of Alternate Compliance Officers to each relevant authority. Institutions must ensure these submissions, including Fit and Proper Questionnaires and specific documentation such as police certificates, are filed within seven working days of the appointment. The designated Compliance Officer must also satisfy the requirements outlined in the Central Bank’s revised Fit and Proper Guideline issued in October 2019.
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