{"text_format":"1","workbook":"xlsx","n_sheets":5,"sheets":["I-Instructions","II-Applicant Details","III-Business Plan Information","IV-Declarations","V-Documentation Checklist"],"not_rendered":{"charts":0,"images":1,"macros":1,"external_links":0,"defined_names":5,"comments":1,"pivot_tables":0},"unopened":[],"bounds":{"document_bytes":16777216,"sheet_cells":100000,"rows_first":2000,"rows_last":500,"rows_between":2000,"halvings":0,"cell_chars":16384,"cell_head_chars":4096},"cells_cut":0,"cells_raw":0,"read":"whole","date_system":"1900"}

{"sheet":"I-Instructions","index":0,"n_rows":10,"n_cols":10,"rows_kept":10,"cut":false,"hidden":false,"merged":[[8,1,8,8],[9,1,9,8],[0,0,0,10],[5,1,5,8],[6,1,6,8],[7,1,7,8],[4,1,4,8]]}
["Digital Asset Business Class T Application Form"]
["INSTRUCTIONS",null,null,null,null,null,null,null,null,"Version 2022.1"]
["Completed application forms should be e-mailed to fintech@bma.bm"]
[]
[1,"Applicants for a Class F or a Class M Digital Asset Business (DAB) licence should not complete this form. They should complete the DAB Class F Application Form or the DAB Class M Application Form instead, as applicable, which can be found on the Bermuda Monetary Authority's (Authority or BMA) website (www.bma.bm)."]
[2,"This form must be completed by a person who is/will be responsible for the conduct of the business of the applicant or having legal capacity to sign on behalf of the applicant. "]
[3,"Applicants may attach files in this document (Insert Tab > Selecting Object (within the Text group) > Selecting “Display as Icon” > Selecting File Type > Selecting the appropriate file)."]
[4,"Completed application forms should be e-mailed (unsigned) to fintech@bma.bm. If applicants encounter difficulties with attaching documents in the application form (under the ‘V-Documentation Checklist’ tab) or the total size of the documents exceeds the maximum size for an e-mail, please contact the FinTech Department at the above e-mail address to receive instructions on how to submit via the Authority’s secure drive."]
[5,"Upon receipt of the completed (unsigned) application form, the FinTech Department will e-mail the form back to the individuals identified in 'IV-Declarations' tab, for electronic signatures.  "]
[6,"The 'IV-Declarations' tab should be signed electronically by two directors, or one director and an officer of the applicant."]

{"sheet":"II-Applicant Details","index":1,"n_rows":28,"n_cols":21,"rows_kept":28,"cut":false,"hidden":false,"merged":[[20,0,20,6],[20,8,20,17],[20,18,20,19],[17,7,17,17],[22,7,22,8],[22,9,22,17],[8,7,8,17],[9,7,9,17],[12,7,12,17],[13,7,13,17],[14,7,14,17],[11,7,11,17],[10,7,10,17],[14,0,14,6],[13,0,13,6],[12,0,12,6],[9,0,9,6],[8,0,8,6],[11,0,11,6],[10,0,10,6],[21,18,21,19],[15,18,15,19],[23,0,23,6],[22,0,22,6],[21,0,21,6],[23,7,23,17],[19,8,19,17],[18,0,18,6],[16,0,16,6],[15,0,15,6],[19,0,19,6],[18,8,18,17],[21,8,21,17],[17,0,17,6],[15,7,15,17],[16,7,16,17],[0,0,0,18],[1,0,1,18],[5,0,5,6],[7,0,7,6],[3,0,3,6],[3,7,3,8],[3,9,3,10],[3,11,3,15],[3,16,3,17],[6,7,6,17],[7,7,7,17],[5,7,5,17],[6,0,6,6],[4,8,4,17],[4,0,4,6]]}
["Digital Asset Business Class T Application Form",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Check"]
["APPLICANT DETAILS"]
[]
["DAB (indicate all DAB activities in relation to which pilot or beta testing will be carried out)",null,null,null,null,null,null,"Select",null,"Select (if applicable)",null,"Select (if applicable)",null,null,null,null,"Select (if applicable)",null,null,null,{"$f":"IF(OR(H4=0,H4=\"Select\"),0,1)","v":0}]
["Does the applicant wish to apply, in terms of section 8 of the Digital Asset Business Act 2018 (Act), for an exemption from the requirement to comply with any prudential standard or requirement applicalbe to it under the Act? If so, please provide relevant details.",null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"IF(OR(H5=0,H5=\"Select\"),0,1)","v":0}]
["Legal name",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"IF(OR(H6=0,H6=\"Enter Legal Company Name\"),0,1)","v":0}]
["Trade name (if different from legal name)",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"IF(OR(H7=0,H7=\"Enter Trade Name\"),0,1)","v":0}]
["Registration number (Registrar of Companies)",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"IF(OR(H8=0,H8=\"Enter Registration Number\"),0,1)","v":0}]
["Registration date",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"IF(H9=0,0,1)","v":0}]
["Registered address",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"IF(OR(H10=0,H10=\"Enter Head Office Address\"),0,1)","v":0}]
["Business address (if different than the registered address)"]
["Contact person name",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"IF(OR(H12=0,H12=\"Enter Contact Person Name\"),0,1)","v":0}]
["Contact person telephone number",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"IF(OR(H13=0,H13=\"Enter Contact Person Phone Number\"),0,1)","v":0}]
["Contact person e-mail address(es)",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"IF(OR(H14=0,H14=\"Enter Contact Person Email Address(es)\"),0,1)","v":0}]
["Website(s) and social media account(s)",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"IF(OR(H15=0,H15=\"Enter Website and Social Media Account\"),0,1)","v":0}]
["If part of a group, details for all group entities [name; registration number; legal form; registered address; e-mail address(es) and website(s)] ",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"IF(OR(H16=0,H16=\"For Groups, Enter Name, Registration Number, Legal Form, Registered Address, Email Address(es) and Website.\nFor Non-Groups, Confirm with N/A\"),0,1)","v":0}]
["Senior representative details [name; registration number; registration date; registered address; telephone number; e-mail address(es); website and contact person(s)]",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"IF(OR(H17=0,H17=\"Senior Representative's Name, Registration Number, Registration Date, Registered Address Telephone Number, Email Address(es), Website, and Contact Person(s)\"),0,1)","v":0}]
["Other contact person(s) details (name; address; telephone number and e-mail address)",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"IF(OR(H18=0,H18=\"Other Contact Person's Name, Address Telephone Number and Email Address(es)\"),0,1)","v":0}]
["Has the applicant had an application to carry out pilot or beta testing in relation to digital assets rejected in another jurisdiction? If so, please provide relevant details.",null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"IF(OR(H19=0,H19=\"Select\"),0,1)","v":0}]
["Is the applicant regulated in another jurisdiction? If so, please provide relevant details [including a certificate of good standing and the contact information of the relevant regulatory authority in the said jurisdiction(s) - contact person name/title, organisation name/address, e-mail address and telephone contact details].",null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"IF(OR(H20=0,H20=\"Select\"),0,1)","v":0}]
["If 'Yes' has been selected for the previous question, does the applicant intend to migrate its existing customers (all or part thereof) to Bermuda upon licensing? If so, please provide relevant details (total number, type of customers, associated timelines etc.).",null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"IF(OR(H21=0,H21=\"Select\"),0,1)","v":0}]
["Has the applicant carried out pilot or beta testing in relation to the proposed product or service in another jurisdiction? If so, please provide relevant details [including the test's goal/objective, whether the goal/objective was met, reasoning (if the goal/objective was not met)].    ",null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"IF(OR(H22=0,H22=\"Select\"),0,1)","v":0}]
["Applicant's current stage of business lifecycle (please provide relevant details)",null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"IF(OR(H23=0,H23=\"Select\"),0,1)","v":0}]
["Details of any legal proceedings to which the applicant or any other group entity is a party, or of which any property or assets of the applicant or such other group entity is the subject matter, and any such proceedings known to the applicant to be contemplated, including the name of the court or agency; the date instituted; the principal parties to the proceedings; the nature of the claim; the amount claimed, if any; if the proceedings are being contested; and the present status of the proceedings",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"IF(OR(H24=0,H24=\"Enter Additional Details\"),0,1)","v":0}]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"SUM(U4:U24)","v":0}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,21]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"U26/U27","v":0}]

{"sheet":"III-Business Plan Information","index":2,"n_rows":54,"n_cols":21,"rows_kept":54,"cut":false,"hidden":false,"merged":[[26,2,26,10],[26,15,26,18],[27,2,27,10],[27,15,27,18],[28,2,28,10],[28,15,28,18],[29,2,29,10],[29,15,29,18],[30,2,30,10],[30,15,30,18],[47,15,47,18],[41,2,41,10],[41,15,41,18],[38,2,38,10],[31,2,31,10],[31,15,31,18],[42,2,42,10],[42,15,42,18],[36,2,36,10],[33,15,33,18],[34,2,34,10],[34,15,34,18],[33,2,33,10],[39,2,39,10],[39,11,39,13],[39,15,39,18],[37,2,37,10],[37,15,37,18],[38,15,38,18],[12,2,12,10],[12,15,12,18],[45,0,48,0],[40,15,40,18],[40,2,40,10],[48,15,48,18],[40,0,43,0],[46,15,46,18],[48,2,48,10],[43,2,43,10],[43,15,43,18],[45,2,45,10],[45,15,45,18],[46,2,46,10],[47,2,47,10],[33,0,38,0],[17,2,17,10],[16,2,16,10],[3,0,3,18],[0,0,0,18],[1,0,1,18],[5,15,5,18],[6,15,6,18],[5,11,5,13],[5,2,5,10],[6,2,6,10],[6,0,31,0],[7,15,7,18],[8,15,8,18],[9,15,9,18],[11,2,11,10],[11,15,11,18],[7,2,7,10],[8,2,8,10],[9,2,9,10],[20,15,20,18],[19,15,19,18],[13,2,13,10],[10,2,10,10],[15,2,15,10],[14,2,14,10],[13,15,13,18],[10,15,10,18],[17,15,17,18],[16,15,16,18],[15,15,15,18],[14,15,14,18],[20,2,20,10],[18,15,18,18],[36,15,36,18],[35,2,35,10],[35,15,35,18],[24,2,24,10],[24,15,24,18],[25,2,25,10],[25,15,25,18],[23,15,23,18],[23,2,23,10],[22,2,22,10],[21,2,21,10],[22,15,22,18],[21,15,21,18],[19,2,19,10],[18,2,18,10]]}
["Digital Asset Business Class T Application Form",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Check"]
["BUSINESS PLAN INFORMATION"]
[]
["Specify which of the following information has been included in the business plan, including the relevant section(s) that such information can be found in the document. In relation to the information that has not been included in the business plan, please explain the reason thereto.  "]
[]
[null,null,"DESCRIPTION",null,null,null,null,null,null,null,null,"Y/N",null,null,null,"SECTION/S"]
["CORPORATE STRUCTURE/BUSINESS MODEL",1,"Description of proposed pilot or beta testing to be carried out by the applicant, including details of how the proposed service/product differs from those already existing in the market, the associated benefit(s) and the relevant process map thereof\n\nNote: any digital asset products and product features relating to the applicant’s business, including those related to the anonymity of its customers (including but not limited to privacy coins) must be described. If anonymity features exist, please also describe the policies and controls that will be in place to ensure appropriate enhanced due diligence when onboarding customers, then ongoing monitoring",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,{"$f":"IF(OR(L7=0,L7=\"Select\"),0,1)","v":0}]
[null,2,"Purpose for seeking licence in Bermuda, outlining the rationale for Bermuda as the chosen jurisdiction",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,0]
[null,3,"Corporate organogram depicting the ownership of the applicant, including identification of its ultimate parent and other relevant details of its group organisational structure",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,0]
[null,4,"Description of the mitigating safeguards in place (or to be put in place and associated timeline) to ensure adequate protection of customers in the event the applicant becomes insolvent and is liquidated",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,0]
[null,5,"Description of proposed custody arrangements for clients' assets (both fiat and digital assets) as well as the policies and procedures to safeguard and reconcile such assets. Where a third-party custodian is engaged, please clarify whether such custodian is/will be dealing directly with the applicant's clients or whether the applicant is/will be dealing with the custodian on behalf of its clients",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,0]
[null,6,"Details of insurance or any other mitigating arrangements to protect the applicant’s own operations in the event of a significant loss",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,0]
[null,7,"Timeline for the development of the product(s)/service(s) offered, highlighting intended launch date(s)",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,0]
[null,8,"Description of the technology and/or methodology that will be used for the proposed product or service (including a technical diagram outlining the components of the solution, applications and infrastructure, and how they interact)",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,0]
[null,9,"Targeted client base (i.e. retail and/or sophisticated)",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,0]
[null,10,"Geographic target market(s)",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,0]
[null,11,"Overview of competitors in the applicant's line of business and description of how the proposed business model differs from those already existing in the market",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,0]
[null,12,"Description of revenue models/income streams",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,0]
[null,13,"Description of other activities/services that the applicant intends to carry out/provide (ancillary to the proposed pilot or beta testing, unregulated, etc.) ",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,0]
[null,14,"Description of outsourced functions (including intra-group), governance processes to monitor performance and identification of the respective service providers (including the applicant’s information systems auditor)",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,0]
[null,15,"Projections for staffing requirements upon licensing and a best estimate for two (2) years post-licensing",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,0]
[null,16,"Information about the financial auditor (name; e-mail address; phone number, curriculum vitae)",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,0]
[null,17,"Description on the manner the applicant will satisfy the requirements emanating from the Digital Asset Business (Client Disclosure) Rules 2018",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,0]
[null,18,"Type and format of data proposed to be made available to the Authority",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,0]
[null,19,"Description of benefits and risks associated with the proposed business model",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,{"$f":"IF(OR(L25=0,L25=\"Select\"),0,1)","v":0}]
[null,20,"Description of guidance and support the applicant wishes to receive from the Authority",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,{"$f":"IF(OR(L26=0,L26=\"Select\"),0,1)","v":0}]
[null,21,"Description of the readiness of the applicant's business to operate, including any outstanding tasks that need to be completed before the testing can commence",null,null,null,null,null,null,null,null,"Select"]
[null,22,"Description of key performance metrics and milestones for purposes of the testing, including the associated timeframes and the manner success will be measured",null,null,null,null,null,null,null,null,"Select"]
[null,23,"Description of the applicant's proposed next steps following the completion of the testing (e.g., how the applicant intends to meet all legal and regulatory requirements before exiting the testing, whether the applicant will be seeking additional approvals/licences/authorisations post-completion, etc.)",null,null,null,null,null,null,null,null,"Select"]
[null,24,"Description of the applicant's exit or wind-down plan, including details of the procedures for limiting client loss and compensating clients (in case the applicant's operation is not successful at the end of the testing period, or the testing has to be concluded early)",null,null,null,null,null,null,null,null,"Select"]
[null,25,"Any intellectual property rights that the applicant holds in relation to the proposed business model",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,{"$f":"IF(OR(L31=0,L31=\"Select\"),0,1)","v":0}]
[null,26,"Any other information which the applicant determines may be relevant",null,null,null,null,null,null,null,null,"Select"]
[]
["CORPORATE GOVERNANCE",1,"Information, including expertise, time allocation and and curriculum vitae, on the applicant's board of directors, senior representative, senior management and/or key functionaries, including the proposed chief information security officer",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,{"$f":"IF(OR(L34=0,L34=\"Select\"),0,1)","v":0}]
[null,2,"Description of the composition of the board of directors (executive/non-executive, independent director(s) etc.),  frequency and location of meetings, and details of any meetings envisaged to be taken outside of Bermuda",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,0]
[null,3,"Description of process for matters to be escalated to the board of directors",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,0]
[null,4,"Description of relationship between the board of directors of (i) the applicant and (ii) its parent company",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,0]
[null,5,"Description of internal committee(s) (to be) put in place by the applicant (function, composition, reporting lines, etc.)",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,0]
[null,6,"Organisational chart reflecting the relationships (indicating the names, reporting lines, roles and responsibilities) between the applicant's board of directors, senior management, risk management function, compliance function, outsourced functions and any other key function critical for the applicant's operations",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,0]
[]
["RISK AND COMPLIANCE",1,"Description of how the applicant implements the 'three lines of defence' model, including the (i) risk management, (ii) internal audit and (iii) compliance functions",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,{"$f":"IF(OR(L41=0,L41=\"Select\"),0,1)","v":0}]
[null,2,"Description of the applicant's risk management policy, including the frequency and process for updating same",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,{"$f":"IF(OR(L42=0,L42=\"Select\"),0,1)","v":0}]
[null,3,"Description of the applicant's policies and procedures architecture, including their interaction thereof",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,{"$f":"IF(OR(L43=0,L43=\"Select\"),0,1)","v":0}]
[null,4,"Description of mitigation measures against contingent risks for group entities",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,{"$f":"IF(OR(L44=0,L44=\"Select\"),0,1)","v":0}]
[]
["FINANCIALS",1,"Detailed description of all costs associated with the pilot or beta testing, broken down into categories (all information should be presented in US Dollars)",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,{"$f":"IF(OR(L46=0,L46=\"Select\"),0,1)","v":0}]
[null,2,"Audited financial statements for the last three years (if applicable)",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,{"$f":"IF(OR(L47=0,L47=\"Select\"),0,1)","v":0}]
[null,3,"Capitalisation amount and source(s) of funding",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,{"$f":"IF(OR(L48=0,L48=\"Select\"),0,1)","v":0}]
[null,4,"Banking relationship(s), including the name of the financial institution(s), address, name of contact, regulatory information, services offered, etc.",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,{"$f":"IF(OR(L49=0,L49=\"Select\"),0,1)","v":0}]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"SUM(U7:U49)","v":0}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,39]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"U52/U53","v":0}]

{"sheet":"IV-Declarations","index":3,"n_rows":29,"n_cols":19,"rows_kept":29,"cut":false,"hidden":false,"merged":[[10,1,10,11],[0,0,0,15],[1,0,1,15],[3,0,3,6],[16,0,19,0],[4,0,5,12],[16,11,19,15],[13,0,13,12],[6,1,6,11],[7,1,7,11],[8,1,8,11],[9,1,9,11],[20,11,20,15],[16,1,19,4],[16,6,19,9],[20,1,20,4],[20,6,20,9],[24,0,27,0],[24,1,27,4],[24,6,27,9],[24,11,27,15],[28,1,28,4],[28,6,28,9],[28,11,28,15]]}
["Digital Asset Business Class T Application Form",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Check"]
["DECLARATIONS"]
[]
[]
["We, the undersigned, declare that:"]
[]
[1,"We are duly authorised to complete and submit this application.",null,null,null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,{"$f":"IF(OR(F7=0,F7=\"Select\"),0,1)","v":0}]
[2,"To the best of our knowledge, the information provided within this application and the accompanying documentation is truthful, accurate and complete and that there are no other facts relevant to this application of which the Bermuda Monetary Authority (Authority or BMA) should be made aware.",null,null,null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,{"$f":"IF(OR(F8=0,F8=\"Select\"),0,1)","v":0}]
[3,"We shall notify the BMA immediately if the information provided changes in any material way either prior to or subsequent to licensing.",null,null,null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,{"$f":"IF(OR(F9=0,F9=\"Select\"),0,1)","v":0}]
[4,"The applicant is aware of and will abide by the Code of Practice as required pursuant to the Digital Business Act 2018.",null,null,null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,{"$f":"IF(OR(F10=0,F10=\"Select\"),0,1)","v":0}]
[5,"The BMA is hereby being authorised to make such enquiries as it may consider necessary in connection with this application.",null,null,null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,{"$f":"IF(OR(F11=0,F11=\"Select\"),0,1)","v":0}]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"SUM(S7:S12)","v":0}]
["Note: The declaration should be signed electronically (see 'I-Instructions' tab for further details) by two directors, or one director and an officer of the applicant.",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,5]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"S13/S14","v":0}]
[]
[1]
[]
[]
[]
[null,"Name and e-mail address",null,null,null,null,"Position",null,null,null,null,"Date and signature"]
[]
[]
[]
[2]
[]
[]
[]
[null,"Name and e-mail address",null,null,null,null,"Position",null,null,null,null,"Date and signature"]

{"sheet":"V-Documentation Checklist","index":4,"n_rows":49,"n_cols":21,"rows_kept":49,"cut":false,"hidden":false,"merged":[[10,1,10,9],[23,1,23,9],[29,1,29,9],[15,1,15,9],[17,1,17,9],[18,1,18,9],[20,1,20,9],[19,1,19,9],[16,1,16,9],[21,1,21,9],[22,1,22,9],[25,1,25,9],[26,1,26,9],[0,0,0,18],[1,0,1,18],[37,0,37,10],[7,1,7,9],[31,1,31,9],[8,1,8,9],[3,0,3,18],[4,0,4,6],[5,1,5,9],[13,1,13,9],[35,1,35,9],[14,1,14,9],[6,1,6,9],[11,1,11,9],[24,1,24,9],[9,1,9,9],[32,1,32,9],[43,1,43,9],[44,1,44,9],[36,1,36,9],[38,1,38,9],[39,1,39,9],[40,1,40,9],[41,1,41,9],[42,1,42,9],[33,1,33,9],[5,11,5,14],[7,11,7,14],[13,11,13,14],[21,11,21,14],[29,11,29,14],[32,11,32,14],[33,11,33,14],[39,11,39,14],[41,11,41,14],[43,11,43,14]]}
["Digital Asset Business Class T Application Form",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Check"]
["DOCUMENTATION CHECKLIST"]
[]
["DAB Class T applications must include the following documentation/information. The Authority may, at its discretion and on the basis of the nature, scale and complexity of a business model, require any further documentation and/or information as it may deem necessary. \n\nNote: Whilst the Authority acknolwedges that all documents required for a comprehensive DAB Class T application may not be available at the time of application, or may not be applicable based on the business plan, applicants are advised to submit all pertinent documents as applicable (in draft form if necessary) to assist in the Assessment and Licensing Committee review process. In cases where required documentation or information is not provided, a written explanation for any such omission is required. Applications that do not contain the necessary documents or information may be deferred or deemed insufficient for review."]
[]
[1,"Copies of the memorandum of association, certificate of incorporation or registration permit (if available)",null,null,null,null,null,null,null,null,"Select","Upload File",null,null,null,null,null,null,null,null,{"$f":"IF(OR(K6=0,K6=\"Select\"),0,1)","v":0}]
[]
[2,"A business plan which should, to the extent applicable to the specific applicant and its proposed business, include the matters specified in Tab 'III-Business Plan Information'",null,null,null,null,null,null,null,null,"Select","Upload File",null,null,null,null,null,null,null,null,{"$f":"IF(OR(K8=0,K8=\"Select\"),0,1)","v":0}]
[]
[3,"Institutional Questionnaires in respect of the applicant's institutional controllers (i.e. shareholder controllers, which are undertakings), accompanied by the respective supporting documentation stated therein",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,null,{"$f":"IF(OR(K10=0,K10=\"Select\"),0,1)","v":0}]
[]
[4,"Personal Questionnaires in respect of the applicant's individual directors, controllers, senior executives and ultimate beneficial owners, accompanied by the respective supporting documentation stated therein",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,null,{"$f":"IF(OR(K12=0,K12=\"Select\"),0,1)","v":0}]
[]
[5,"Copy of the applicant's cyber risk management programme, which should include the following information (note that the Authority understands not all of these items may be in place where systems have not yet been built – please refer to requirement ii below):",null,null,null,null,null,null,null,null,"Maturity Status Required","Upload File"]
["(i)","Cyber Risk Policy (consideration for: change management, configuration management, capacity and performance management, business continuity planning, disaster recovery)",null,null,null,null,null,null,null,null,"Draft","Select",null,null,null,null,null,null,null,null,{"$f":"IF(OR(K15=0,K15=\"Select\"),0,1)","v":1}]
["(ii)","Forward-looking IT roadmap document detailing major releases of business services/IT services from build to test and to production, in order for the Authority to understand the context to the current and planned cyber risk control environment maturity status",null,null,null,null,null,null,null,null,"Draft","Select",null,null,null,null,null,null,null,null,1]
["(iii)","Description of the three lines of defence (i.e. first-line operational controls, second-line IT risk identification and management process, a third-line independent cyber risk audit capability)",null,null,null,null,null,null,null,null,"Draft","Select",null,null,null,null,null,null,null,null,1]
["(iv)","Risk register identifying and tracking cyber risks",null,null,null,null,null,null,null,null,"Draft","Select",null,null,null,null,null,null,null,null,1]
["(v)","Confirmation, if any, of any international IT and data protection regulatory requirements that must be met and information as to how the applicant intends to ensure compliance",null,null,null,null,null,null,null,null,"Draft","Select",null,null,null,null,null,null,null,null,1]
["(vi)","Third-party risk assessment and management process to identify and manage cyber risks relevant to third-party services",null,null,null,null,null,null,null,null,"Draft","Select",null,null,null,null,null,null,null,null,1]
[]
[6,"Copy of the applicant's Anti-Money Laundering and Anti-Terrorism Financing (AML/ATF) and sanctions programme, which should include the following information:",null,null,null,null,null,null,null,null,null,"Upload File"]
["(i)","AML/ATF and sanctions policies and procedures, which demonstrate the applicant’s compliance with each individual regulatory and/or legislative requirement in the Proceeds of Crime (AML/ATF) Regulations 2008 and the International Sanctions Regulations 2013 (Bermuda Sanctions Regime)",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,null,{"$f":"IF(OR(K23=0,K23=\"Select\"),0,1)","v":0}]
["(ii)","Business Money Laundering/Terrorist Financing (ML/TF) risk assessment, which demonstrates the applicant’s assessment of its ML/TF risks against the ML/TF risk factors (customer, geography, delivery channel and products/services)\n\nNote: The business ML/TF risk assessment should include the identification of the applicant’s inherent risks of ML/TF and sanctions violations against each of the ML/TF risk factors, the assessment of the results of the national risk assessment and its impact on the applicant, the applicant’s mitigation measures in place and the consequent residual risks",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,null,{"$f":"IF(OR(K24=0,K24=\"Select\"),0,1)","v":0}]
["(iii)","Customer ML/TF risk assessment methodology, and accompanying form/tool for new and ongoing business relationships\n\nNote: The customer ML/TF risk assessment methodology and accompanying form/tool should adequately assess the ML/TF risks (customer, geography, delivery channel and products/services) in order to determine each customer’s risk rating, which in turn will determine the level of initial customer due diligence and ongoing monitoring required. The methodology should include consideration of events that would trigger a potential re-rating or ad hoc customer review",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,null,{"$f":"IF(OR(K25=0,K25=\"Select\"),0,1)","v":0}]
["(iv)","With respect to any AML/ATF and/or sanctions functions that have been outsourced: (a) a copy of the service level agreement(s) in place, which describe what functions have been outsourced/insourced, and to which internal/external provider; and (b) information and/or evidence documenting how the applicant will monitor and manage their provider's/providers' performance to demonstrate that the applicant retains ultimate responsibility for AML/ATF and sanctions compliance",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,null,{"$f":"IF(OR(K26=0,K26=\"Select\"),0,1)","v":0}]
["(v)","Information and/or evidence of the qualifications and experience of the applicant’s compliance officer and money laundering reporting officer",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,null,{"$f":"IF(OR(K27=0,K27=\"Select\"),0,1)","v":0}]
[]
[]
[7,"Draft service level agreements pertaining to any substantive outsourced functions",null,null,null,null,null,null,null,null,"Select","Upload File",null,null,null,null,null,null,null,null,{"$f":"IF(OR(K30=0,K30=\"Select\"),0,1)","v":0}]
[]
[8,"Acceptance letter indicating unconditional acceptance from the applicant's:"]
["(i)","Approved auditor (if available)",null,null,null,null,null,null,null,null,"Select","Upload File",null,null,null,null,null,null,null,null,{"$f":"IF(OR(K33=0,K33=\"Select\"),0,1)","v":0}]
["(ii)","Senior representative",null,null,null,null,null,null,null,null,"Select","Upload File",null,null,null,null,null,null,null,null,{"$f":"IF(OR(K34=0,K34=\"Select\"),0,1)","v":0}]
[]
[9,"Application fee",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,null,{"$f":"IF(OR(K36=0,K36=\"Select\"),0,1)","v":0}]
[]
["Applicants for a continuation of an overseas operation from a foreign jurisdiction into Bermuda must additionally provide:"]
[]
[10,"A certificate of good standing from the relevant regulatory authority in the foreign jurisdiction",null,null,null,null,null,null,null,null,"Select","Upload File",null,null,null,null,null,null,null,null,{"$f":"IF(OR(K40=0,K40=\"Select\"),0,1)","v":0}]
[]
[11,"Contact information from the regulatory authority in the relevant foreign jurisdiction, including contact person name/title, organisation name/address, e-mail address and telephone contact details",null,null,null,null,null,null,null,null,"Select","Upload File",null,null,null,null,null,null,null,null,{"$f":"IF(OR(K42=0,K42=\"Select\"),0,1)","v":0}]
[]
[12,"Copies of the most recent statutory financial statements and/or any other relevant financial information evidencing compliance of the applicant with (where applicable) the capital, solvency and liquidity requirements of the foreign jurisdiction",null,null,null,null,null,null,null,null,"Select","Upload File",null,null,null,null,null,null,null,null,{"$f":"IF(OR(K44=0,K44=\"Select\"),0,1)","v":0}]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"SUM(U6:U44)","v":6}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,28]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"U47/U48","v":0.21428571428571427}]