Regulatory Alerts2019-02-14 | Money Broking Regulations No. 1 of 2019Amendment to Money Broking Regulations No. 1 of 2018
The Central Bank of Sri Lanka issued the Money Broking Regulations No. 1 of 2019 to amend the 2018 regulations regarding authorized money broking companies. The amendments introduce stricter fitness and propriety assessments for significant shareholders, disqualify individuals with histories of fraud or dishonesty from key management roles, and prohibit directors from holding equity in licensed commercial banks. Additionally, the regulations mandate monthly performance reports via the Fin Net system and require maintenance agreements for external voice recording services.
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