Statement of Compliance
Stock Exchange
The exchange company is required to submit a Statement of Compliance to the Financial Services Commission on an annual basis, signed by a senior officer. This form is to be returned no later than four months after the accounting period end of the exchange.
The Commission may decide that a Statement of Compliance be submitted more frequently where it deems this necessary.
To reflect the importance of responsibility for compliance, the completed Statement of Compliance must be approved by the Board and formally minuted. Therefore, a copy of the relevant Board Resolution must be submitted together with this completed form.
Name of firm:Period Under Review: / From:
To:
Please note that the period under review must correspond with that of the firm’s financial statements.
Version 1.0
October 2014
1. Contact Details
1.1 Provide details of the firm’s public email and website address
1.2 Please complete the tables below:
Function / Name of Person Responsible / Contact Email AddressPrincipal Contact of Firm
Compliance Officer
Money Laundering Reporting Officer
Four Eyes / 1.
2.
Please Provide Details on the Following Information:
1.3 List all the trading names currently being used by the firm (if applicable)
2. Financial Services Business
2.1 Has the exchange company carried on any business other than that for which it is licensed or authorised? (If Yes, provide further details)
Yes ☐ No ☐
2.2 Is the exchange company satisfied that it has conducted its business at all times in accordance with the Acts and Regulations? (If No, provide further details)
Yes ☐ No ☐
2.3 Has the exchange company changed its business plan in the last year? (If Yes, provide further details)
Yes ☐ No ☐
2.4 If the exchange company is subject to any special conditions, has it complied with such conditions? (If No, provide further details)
Yes ☐ No ☐
2.5 Does the exchange company have a documented business continuity plan or other contingency arrangement in place? (If No, provide details of any alternative arrangements)
Yes ☐ No ☐
3. Financial Resources
3.1 Has the exchange company met its financial resources requirements at all times during the period under review? (If No, provide further details)
Yes ☐ No ☐
4. Shareholding and Corporate Structures
4.1 On a separate sheet, please provide an organogram showing the current shareholding structure of the exchange company including all levels within the structure.
4.2 On a separate sheet, please provide the current composition of the exchange company’s Board, indicating the role and position of each individual.
4.3 On a separate sheet, please provide a staff structure for senior management, including all individuals that carry out a managerial role and their job title.
5. Compliance (Arrangements, Monitoring and Records)
5.1 Does the exchange company have and make available to its officers and employees rules of conduct and/or internal procedures manuals which reflect the regulatory compliance requirements? (If No, provide further details)
Yes ☐ No ☐
5.2 Is the exchange company satisfied that its arrangements for ensuring compliance have been effective throughout the period under review? (If No, provide further details)
Yes ☐ No ☐
5.3 Has the exchange company carried out regular and adequate monitoring procedures during the period under review to ensure that employees act in conformity with regulatory requirements? (If No, provide further details)
Yes ☐ No ☐
5.4 Is the exchange company satisfied that adequate action has been taken to correct any deficiencies? (If No, provide further details)
Yes ☐ No ☐
5.5 Has the exchange company’s management been made aware at regular intervals of compliance monitoring findings? (If No, provide further details)
Yes ☐ No ☐
5.6 Is the record of occurrences which have, or may have, involved a breach of regulatory requirements complete and accurate? (If any, provide further details on the breaches)
Yes ☐ No ☐
5.7 Has the firm been subject to:
• An Internal Audit; and/or
• A Compliance Review? (If Yes, provide further details)
Yes ☐ No ☐
5.8 Has the exchange company received a management letter as part of its external audit? (If Yes, please provide a copy of this together with the firm’s reply)
Yes ☐ No ☐
6. Due Diligence
6.1 Please confirm that the firm has complied with the requirements set in the FSC’s AML/CFT Guidance Notes.
Yes ☐ No ☐
7. Training and Competence
7.1 Please confirm that the firm ensures that it adequately monitors and identifies training needs of its staff members, to ensure that they continue to be competent to carry out their roles.
Yes ☐ No ☐
8. Disciplinary Action
8.1 Has the exchange company been involved in any litigation as either the claimant or defendant, during the period under review? (If Yes, provide further details)
Yes ☐ No ☐
8.2 Has the exchange company, or any employee, been the subject of any investigation or disciplinary measures in respect of failure to observe regulatory or other obligations? (If Yes, provide further details)
Yes ☐ No ☐
9. Creditors
9.1 Is the exchange company in arrears for 90 days or more in relation to any of the following:
• PAYE;
• Corporate Tax;
• Rates; and/or
• Other Financial Obligations with Creditors? (If Yes, provide further details)
Yes ☐ No ☐
10. Advertising
10.1 Have copies of all advertisements and marketing issued been forwarded to the Commission? (If No, provide further details)
Yes ☐ No ☐
11. Professional Indemnity Insurance
11.1 Please provide details of the Professional Indemnity cover in place. Please state the amount of cover and any applicable excess or deductible.
Name of Insurer:Amount:
Excess:
Period of Cover: (dd/mm/yy) to (dd/mm/yy)
12. Notification Requirements
12.1 Has the Commission and/or Listing Authority been advised of all events and circumstances requiring prior approval or notification as per the Schedule within the Financial Services (Investment Exchange)(Rules and Notification) Regulations 2007? (If No, provide further details)
Yes ☐ No ☐
12.2 Has the exchange company established any material outsourcing during the period under review? (If Yes, provide further details)
Yes ☐ No ☐
13. Additional Information
13.1 Are there any material or significant matters concerning the exchange company’s business or its procedures which have not been disclosed to the Commission? (If Yes, provide further details)
Yes ☐ No ☐
13.2 If applicable, are there any matters relating to an earlier Statement of Compliance or qualification in an Auditor’s report which remain unresolved? (If Yes, provide further details)
Yes ☐ No ☐
14. Checklist
Document/Action / Please TickHas a copy of the Board Resolution been attached? / ☐
Have responses and all relevant details for each question been provided? / ☐
Has a copy of the Organogram been attached? / ☐
Has a copy of the Board Composition been attached? / ☐
If applicable, has a copy of the management letter been included? / ☐
DECLARATION
We certify that the information given in answer to the questions above are complete and accurate to the best of our knowledge, information and belief and that there are no other relevant facts of which the Financial Services Commission should be aware.
We undertake to inform the Financial Services Commission of any changes material to this notification.
Name Position held
Signed Date
Name Position held
Signed Date