Regulatory Alerts2014-12-24 | 29550Added · Updated
Revised Terms and Conditions on Bureaux de Change Operations and Licence Renewal
The Central Bank of Trinidad and Tobago mandates that all Bureau de Change licenses be renewed for a six-month period effective December 31, 2014, pending the finalization of revised regulatory terms. The Bank prohibits the issuance of new licenses until the new framework is established and requires applicants to submit renewal applications at least one month prior to expiration with specific supporting documents. A non-refundable annual fee of $20,000 is payable for principal office renewals, alongside a $3,000 fee for each branch renewal. The document also outlines existing provisions regarding onsite examinations and potential license revocation for material non-compliance.