Ongoing Supervision

Approach to supervision

All banks licensed by the Commission are subject to ongoing supervision by the Banking and Insurance Division which includes:

  • Onsite inspections at the licensee’s place of business; 
  • Desk-based analysis of regulatory and statistical returns and other relevant data;
  • The submission of annual audited financial statements; 
  • Approval by the Commission of firms and individuals who act as controllers, directors or managers of the licensee’s business;
  • Notification of significant events or changes within the business;
  • Participation in thematic studies relating to banking business and the financial sector, as requested by the Commission; and
  • Attendance by the Commission at bank supervisory colleges;
  • Appointment by the Commission of a Skilled Person.