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Compliance Inspection Unit


The Compliance Inspection Unit is responsible for carrying out on-site compliance inspections for the purpose of prudential supervision of financial services business carried on in or from within the Territory.

The Unit is also tasked with determining whether a licensee remains “fit and proper” and identifying any systemic risks inherent in their operation and the consequential impact(s) on the jurisdiction and then seeks to address the systemic risks in a timely manner. At present, the Commission conducts on-site compliance inspections on licensed banks, trust and corporate service providers, fund administrators and fund managers, insurers and insurance managers and insolvency practitioners. This process entails, in appropriate cases, the verification of legislative requirements through the sampling of specific matters within the portfolios of licensed entities.