CIMA Personal Questionnaire (March 2019)

Summary

This is CIMA's standard Personal Questionnaire form, used to collect fitness and propriety information on individuals proposed as directors, shareholders, officers, managers or controllers of entities licensed or seeking a licence under the Banks and Trust Companies Law, Companies Management Law, Insurance Law, Money Services Law, Mutual Funds Law, or Securities Investment Business Law. It gathers personal details, career history, qualifications, appointments and shareholdings, and requires disclosure of any adverse regulatory, legal, financial or disciplinary history relevant to fitness and propriety.

• Who must complete it: Any individual requiring the Authority's approval in connection with a licence holder or licence applicant under the listed Regulatory Laws (e.g. proposed directors, shareholders, managers, officers, controllers).
• Required attachments: A curriculum vitae/resume and a notarized or similarly certified colour copy of a passport or other government photo identification, with the certifier's details.
• Content covered: Personal and residential history, prior regulatory approvals, professional and academic qualifications, ten year career history, appointments/shareholdings, and detailed fitness and propriety disclosures (criminal, civil, disciplinary, bankruptcy, PEP status, etc).
• Source of wealth/funds: Section 7B applies only to individual shareholders/controllers holding 10% or more of issued shares, or applicants subject to enhanced due diligence (e.g. PEPs or high risk profiles), who must complete a separate Declaration of Source of Wealth and Source of Funds form if required.
• Ongoing notification duty: Signatories certify the information is complete and correct and undertake to notify the Authority of any material changes affecting the completeness of answers to the fitness and propriety questions within 21 days, for as long as they remain a director, shareholder, manager, officer or controller of the authorized institution.

The form itself does not set a filing deadline for submission, as it is filed as part of an application for approval; however, it creates a continuing 21 day notification obligation once approved. Providing false or misleading information is stated to be a criminal offence and can lead to rejection or revocation of a licence.

Key obligations

• Complete all questions on the form in English and typed, marking any inapplicable question as Not Applicable or N/A
• Attach a curriculum vitae/resume and a notarized or similarly certified colour copy of a passport or other government-issued photo identification, with certifier details
• Individual shareholders/controllers holding 10% or more of issued shares, or applicants subject to enhanced due diligence, must complete the Declaration of Source of Wealth and Source of Funds form if required by the Authority
• Certify that the information provided is complete and correct
• Notify the Authority of any material changes affecting the completeness of answers to the fitness and propriety questions (questions 18-32) within 21 days, for as long as the individual remains a director, shareholder, manager, officer or controller of the authorized institution
• Authorise the Authority to make enquiries and seek further information to verify the information provided

Applies to

banks, trust companies, companies management licensees, insurance companies, money services providers, mutual funds, securities investment business licensees, directors, shareholders, managers, officers and controllers of licensed entities

Deadlines

• within a period of twenty-one days: Notification to the Authority of any material change affecting the completeness of answers to the fitness and propriety questions (questions 18-32), for as long as the individual remains a director, shareholder, manager, officer or controller