Supervision Activities

Compliance Examinations

On-site examinations and off-site surveillance are conducted to determine whether registrants are complying with the relevant laws.

On-site Examinations:

• Site visits serve to obtain information, sample documents, test processes and procedures and review financial technology used to deliver services and comply with regulatory requirements.

Off-site Examinations:

• Desk-based reviews and assessments
• Non-face-to-face interviews

 Issuing of Compliance Directives

• Instructions directing a registrant or non-registrant to take measures that are necessary to remedy any course of conduct that breaches legal obligations or is contrary to generally accepted standards of conduct or prudent operation and behavior. May be issued where compliances deficiencies are identified through other compliance examinations or supervisory activities.

Monitoring Compliance with Directives Issued

• Timelines, follow up and confirmation of compliance to confirm deficiencies that were previously identified have been rectified.

Referral of Matters for Legal Enforcement

• Matters may be referred to Legal Enforcement with recommendations for sanctions where:
  • An individual fails to take necessary measures as directed by Compliance, or
  • is in breach of its obligations, securities and AML/CFT laws and regulations.

Regulatory Reviews

• Ensures strict compliance with reporting obligations. Our review of filings by all registrants is conducted to assess various factors, including business risk, money laundering and terrorist financing risk, market conduct, and the financial solvency of registrants.