Regulatory Alerts2026-08-07
Added · Updated
SCB Approach to Examinations (updated 26 August 2026)
Licensees and registrants under the Securities Industry Act, 2024, Investment Funds Act, 2019, Financial and Corporate Service Providers Act, 2020, and Digital Assets and Registered Exchanges Act, 2024 are subject to risk-based onsite examinations that ordinarily receive written notice approximately thirty days ahead. Focused AML/CFT/CPF and CRS examinations last one to two weeks, while full-scope examinations last between one and four weeks depending on size and complexity. For High severity findings, entities must submit a containment and risk-mitigation plan within thirty days and complete full remediation in up to 90 days, whereas Medium and Low severity findings allow up to 180 and 360 days respectively. Cost recovery is applied at the Commission's discretion under the Securities Industry Act, 2024 and Investment Funds Act, 2019, with exemptions available on application, while examinations conducted by agents under the Financial and Corporate Service Providers Act, 2020 and Digital Assets and Registered Exchanges Act, 2024 are at the expense of the licensee or registrant.