Regulatory Policy – Applications for the use of Restricted Words

Summary

This CIMA Regulatory Policy sets out the criteria and process for obtaining the Authority's approval to use words that are restricted under the Regulatory Acts, whether in the name of a regulated entity or an unregulated one. It explains when a proposed name may cause confusion with an existing entity, or falsely suggest a government, royal or special-status connection, and how unregulated businesses can seek approval to use words associated with regulated sectors.

• Scope: Applies to any person or entity, regulated or unregulated, wishing to use a restricted word in its name or description.
• Regulated entity criteria: CIMA assesses resemblance to existing entity names, risk of confusion, and whether a name falsely suggests a government, royal or special-status connection.
• Unregulated entity criteria: CIMA will not approve use of a restricted word that risks misrepresenting an unregulated business as a regulated one or that is part of an attempt to mislead or defraud the public.
• Conditions on approval: CIMA may attach conditions, such as prohibiting the approved entity from engaging in activities akin to regulated activities and requiring it to supply further information on request.
• Application requirements: Applicants must submit the proposed word, reasons for use, a description of business activities, incorporation details, constitutional documents, and other supporting information before any use of the word.
• Enforcement: CIMA may require a regulated entity to change its name for non-compliance and may use its general supervisory and enforcement powers.

The Policy takes effect upon gazettement and should be read alongside the relevant Regulatory Acts and other CIMA regulatory measures.

Key obligations

• Unregulated entities must apply to and obtain CIMA approval before using a restricted word in their name or description.
• Regulated entities must not use a name or description that is identical or similar to an existing entity, or that falsely suggests a connection to another person, entity, government or royalty, or a government-conferred special status.
• Applicants for use of a restricted word must submit to CIMA the proposed word, reasons for its use, a description of business activities, incorporation details, certified constitutional documents, an organisational chart (where applicable), contact information, and any other information CIMA requires.
• Entities granted approval to use a restricted word must comply with any conditions CIMA attaches, including not engaging in activities akin to regulated activities and providing further information to CIMA on request.
• A regulated entity must change its name if directed by CIMA where the name contravenes the prohibitions in this Policy.

Applies to

Regulated Entities, Unregulated Entities

Deadlines

• upon gazettement: The Policy becomes effective upon gazettement.
• before use: An application for use of a restricted word must be submitted to and approved by the Authority before the word is used, as unapproved use may constitute an offence.