{"text_format":"1","workbook":"xlsx","n_sheets":7,"sheets":["I-Instructions","II-Applicant Details","III-Business Plan Information","IV-Insurance","V-Prior Issues","VI-Documentation Checklist","VII-Declarations"],"not_rendered":{"charts":0,"images":1,"macros":1,"external_links":0,"defined_names":7,"comments":0,"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":9,"n_cols":10,"rows_kept":9,"cut":false,"hidden":false,"merged":[[8,1,8,8],[0,0,0,18],[5,1,5,8],[6,1,6,8],[7,1,7,8],[4,1,4,8]]}
["Investment Business Licence and Registration Application Form"]
["INSTRUCTIONS",null,null,null,null,null,null,null,null,"Version 2021.1"]
["Completed application forms should be e-mailed to investmentInfo@bma.bm"]
[]
[1,"Applicants for a Test licence should not complete this form. They should complete the General Regulatory Sandbox Application Form instead, as applicable, which can be found on the Bermuda Monetary Authority's (BMA or Authority) 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 (signed) to investmentInfo@bma.bm. If applicants encounter difficulties with attaching documents in the application form (under the ‘VII-Documentation Checklist’ tab) or the total size of the documents exceeds the maximum size for an e-mail, please contact the Banking, Trust, Corporate Services and Investment Department (BTCSI) at the above email address to receive instructions on how to submit via the Authority’s secure file sharing portal."]
[5,"The 'VII-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":41,"n_cols":22,"rows_kept":41,"cut":false,"hidden":false,"merged":[[6,9,6,18],[7,9,7,18],[36,8,36,18],[36,1,36,7],[24,1,24,7],[24,8,24,18],[23,8,23,18],[32,8,32,18],[16,1,16,7],[15,1,15,7],[20,1,20,7],[14,8,14,18],[16,8,16,18],[20,8,20,18],[19,8,19,18],[18,1,18,7],[37,19,37,20],[29,8,29,18],[29,1,29,7],[26,1,26,7],[27,1,27,7],[28,1,28,7],[26,8,26,18],[27,8,27,18],[28,8,28,18],[38,1,38,7],[37,1,37,7],[37,9,37,18],[38,9,38,18],[0,1,0,19],[1,1,1,19],[11,1,11,7],[13,1,13,7],[10,1,10,7],[13,8,13,18],[11,8,11,18],[12,1,12,7],[12,8,12,18],[10,8,10,18],[3,1,9,7],[8,9,8,18],[9,9,9,18],[3,8,3,18],[4,9,4,18],[5,9,5,18],[2,0,24,0],[23,1,23,7],[22,1,22,7],[21,1,21,7],[15,8,15,18],[21,8,21,18],[22,8,22,18],[14,1,14,7],[18,8,18,18],[19,1,19,7],[17,1,17,7],[17,8,17,18],[40,1,40,7],[40,8,40,18],[39,1,39,7],[39,8,39,18],[26,0,40,0],[33,1,33,7],[33,8,33,18],[34,1,34,7],[34,8,34,18],[35,1,35,7],[35,8,35,18],[30,1,30,7],[30,8,30,18],[31,1,31,7],[31,8,31,18],[32,1,32,7]]}
[null,"Investment Business Licence and Registration Application Form",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Check"]
[null,"APPLICANT DETAILS"]
["PART I: DETAILS OF APPLICANT"]
[null,"Scope of business (indicate all investment activities proposed to be provided as defined in Part 2 of the First Schedule to the Act)\n",null,null,null,null,null,null,"Investment Activity (please select as applicable)"]
[null,null,null,null,null,null,null,null,"Select","Dealing in investments"]
[null,null,null,null,null,null,null,null,"Select","Arranging deals in investments"]
[null,null,null,null,null,null,null,null,"Select","Managing investments"]
[null,null,null,null,null,null,null,null,"Select","Investment Advice"]
[null,null,null,null,null,null,null,null,"Select","Safeguarding and administering investments"]
[null,null,null,null,null,null,null,null,"Select","Promotion of investments"]
[null,"Licence or Class of registration"]
[null,"Name of applicant"]
[null,"Any other names which the applicant uses (has used) or proposes to use for purposes of or in connection with any business carried on"]
[null,"Place of formation "]
[null,"Registration number (Registrar of Companies # for Bermuda)"]
[null,"Registration date"]
[null,"Registered office address"]
[null,"Address of principal place of business in Bermuda"]
[null,"Other places of business in Bermuda"]
[null,"Other places of business outside Bermuda"]
[null,"Contact person name"]
[null,"Contact person telephone number"]
[null,"Contact person e-mail address(es)"]
[null,"Website(s) and social media account(s) (as applicable)"]
[null,"Application for Class A Registered Person only: Name, address and contact details of senior representative"]
[]
[null,"Name(s) and address(es) of the applicant's principal banker(s) within the last ten years"]
[null,"Name(s) and address(es) of banker(s) with whom the applicant maintains or proposes to maintain client accounts"]
[null,"Name(s) and address(es) of the main custodian(s) of the client assets:"]
[null,"a) securities"]
[null,"b) other"]
[null,"Name and addresses of the applicant's auditors (where applicable)"]
[null,"Names and addresses of any other regulatory body with responsibility for the applicant."]
[null,"Names of all directors and senior executives (identify the independent directors)"]
[null,"Names of all controllers of the undertaking, indicating the relevant category of controller and whether individual or corporate, (e.g., \"majority shareholder controller\" if the person controls 50% or more of the shares or voting power of the institution)."]
[null,"Names and positions in the undertaking of the persons who are responsible for effectively directing the business"]
[null,"Application for Class A Registered Person only: Name of recognised regulator"]
[null,"Does the applicant provide service(s) in relation to investment business in another jurisdiction? If so, please provide relevant details.",null,null,null,null,null,null,"Select"]
[null,"Is the applicant registered with GoAML?",null,null,null,null,null,null,"Select"]
[null,"Applicant's financial year-end"]
[null,"\n(a)Where applicable - amount and currency of the applicant's issued and paid-up share capital\n(b)Where applicable - amount and currency of the applicant's authorised share capital"]

{"sheet":"III-Business Plan Information","index":2,"n_rows":36,"n_cols":21,"rows_kept":36,"cut":false,"hidden":false,"merged":[[21,0,22,0],[25,2,25,10],[25,15,25,18],[21,2,21,10],[21,15,21,18],[23,2,23,10],[23,11,23,13],[23,15,23,18],[22,2,22,10],[22,15,22,18],[28,0,30,0],[24,15,24,18],[24,2,24,10],[24,0,26,0],[29,15,29,18],[26,2,26,10],[26,15,26,18],[28,2,28,10],[28,15,28,18],[29,2,29,10],[30,2,30,10],[30,15,30,18],[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],[6,0,20,0],[19,2,19,10],[17,2,17,10],[16,2,16,10],[12,15,12,18],[13,2,13,10],[11,2,11,10],[11,15,11,18],[20,2,20,10],[20,15,20,18],[18,2,18,10],[18,15,18,18],[19,15,19,18],[7,15,7,18],[9,15,9,18],[8,15,8,18],[10,2,10,10],[10,15,10,18],[8,2,8,10],[7,2,7,10],[9,2,9,10],[12,2,12,10],[15,2,15,10],[14,2,14,10],[17,15,17,18],[16,15,16,18],[13,15,13,18],[15,15,15,18],[14,15,14,18]]}
["Investment Business Licence and Registration 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"]
[]
["Please 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 investment business service(s) and/or product(s) to be provided by the applicant to clients/customers",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,{"$f":"IF(OR(L7=0,L7=\"Select\"),0,1)","v":0}]
[null,2,"Purpose for seeking licence or registration in Bermuda, outlining the rationale for Bermuda as the chosen jurisdiction",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,0]
[null,3,"Application for Standard Licence: Explanation of how the applicant plans to meet physical presence requirements when conducting investment business in or from within Bermuda",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,{"$f":"IF(OR(L9=0,L9=\"Select\"),0,1)","v":0}]
[null,4,"Corporate organogram depicting the ownership of the applicant, including identification of its ultimate parent and other relevant details of its group organisational structure including interaction between other group entities.",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,0]
[null,5,"Proposed staff organisational chart with reporting lines, including links to other offices in the structure that may perform functions for the Bermuda-based entity.",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,{"$f":"IF(OR(L11=0,L11=\"Select\"),0,1)","v":0}]
[null,6,"Overview of the corporate governance framework and description of how the applicant complies/will comply with the Corporate Governance Policy for Investment Businesses 2020",null,null,null,null,null,null,null,null,"Select"]
[null,7,"Description of proposed custody arrangements for clients' assets as well as the policies and procedures to safeguard and reconcile such assets. Where a third-party custodian is engaged, please clarify whether such custodian is/will be dealing directly with the applicant's clients or whether the applicant is/will be dealing with the custodian on behalf of its clients. \n",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,0]
[null,8,"Name(s) and address(es) of banker(s) with whom the applicant maintains or proposes to maintain client accounts\n",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,{"$f":"IF(OR(L14=0,L14=\"Select\"),0,1)","v":0}]
[null,9,"Targeted client base (e.g., retail, sophisticated/high net worth, institutional etc.)",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,0]
[null,10,"Geographic target market(s) (initial and anticipated in future)",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,0]
[null,11,"Application for Standard Licence only: Description of revenue models/income streams and financial forecasts/projections for the next three years",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,0]
[null,12,"Summary of the applicant's business continuity and disaster recovery arrangements",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,0]
[null,13,"Summary of the applicant's Information Technology framework/programme (including cybersecurity)",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,{"$f":"IF(OR(L19=0,L19=\"Select\"),0,1)","v":0}]
[null,14,"Application for Standard Licence only: Description of outsourced functions (including intra-group if applicable), governance processes to monitor performance and identification of the respective service providers",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,0]
[null,15,"Application for Standard Licence only: Description of how the applicant complies/will comply with the requirements emanating from the IBA Statement of Principles; the IBA General Business Conduct and Practice Code of Conduct; the Investment Business Client Money Regulations 2004, and the Investment Business Regulations 2004. \nPlease also provide references to the relevant policies and procedures submitted per Section VI.",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,0]
[null,16,"Description of the composition of the board of directors or similar (executive/non-executive, independent director(s) etc.) ",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,{"$f":"IF(OR(L22=0,L22=\"Select\"),0,1)","v":0}]
[null,17,"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]
[]
["RISK MANAGEMENT AND COMPLIANCE",1,"Application for Standard Licence only: Description of how the applicant (will) implement(s) the 'three lines of defence' model (or similar), 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,{"$f":"IF(OR(L25=0,L25=\"Select\"),0,1)","v":0}]
[null,2,"Description of the risk management function/programme",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,{"$f":"IF(OR(L26=0,L26=\"Select\"),0,1)","v":0}]
[null,3,"Description of the compliance function/programme",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,{"$f":"IF(OR(L27=0,L27=\"Select\"),0,1)","v":0}]
[]
["FINANCE",1,"Application for Standard Licence only: Pro forma income statements and balance sheets prepared on a two-year period (all financial information should be presented in US Dollars; if the original statements are prepared in a foreign currency other than US Dollars, those amounts must be converted into the US Dollar equivalent), including any key assumptions made therefore",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,{"$f":"IF(OR(L29=0,L29=\"Select\"),0,1)","v":0}]
[null,2,"Application for Standard Licence only: Audited financial statements for the last three years (if applicable)\n",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,{"$f":"IF(OR(L30=0,L30=\"Select\"),0,1)","v":0}]
[null,3,"Capitalisation amount and source(s) of funding\nWhere applicable - amount and currency of the applicant's issued and paid-up share capital\nWhere applicable - amount and currency of the applicant's authorised share capital",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,{"$f":"IF(OR(L31=0,L31=\"Select\"),0,1)","v":0}]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"SUM(U7:U31)","v":0}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,39]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"U34/U35","v":0}]

{"sheet":"IV-Insurance","index":3,"n_rows":18,"n_cols":13,"rows_kept":18,"cut":false,"hidden":false,"merged":[[16,0,16,4],[14,0,14,4],[15,0,15,4],[13,1,13,4],[2,6,3,6],[11,1,11,4],[12,1,12,4],[14,6,14,9],[15,6,15,9],[16,6,16,9],[7,1,7,4],[8,1,8,4],[9,1,9,4],[10,1,10,4],[6,1,6,4],[0,0,0,9],[1,0,1,9],[2,0,3,5],[4,1,4,4],[5,1,5,4],[2,8,3,8],[2,9,3,9],[2,7,3,7]]}
["Investment Business Licence and Registration Application Form",null,null,null,null,null,null,null,null,null,null,null,"Check"]
["Insurance Cover"]
["Indicate below whether the Applicant has cover in respect of the following:-",null,null,null,null,null,"Limits","Deductible","Insurer","Broker"]
[]
["a","Errors and omissions",null,null,null,"Select",null,null,null,null,null,null,{"$f":"IF(OR(#REF!=0,#REF!=\"Select\"),0,1)","v":{"$error":"#REF!"}}]
["b","Directors and officers liability\n",null,null,null,"Select",null,null,null,null,null,null,{"$f":"IF(OR(#REF!=0,#REF!=\"Select\"),0,1)","v":{"$error":"#REF!"}}]
["c","Fidelity and forgery ",null,null,null,"Select"]
["d","Loss of property",null,null,null,"Select",null,null,null,null,null,null,{"$f":"IF(OR(#REF!=0,#REF!=\"Select\"),0,1)","v":{"$error":"#REF!"}}]
["e","Computer crime",null,null,null,"Select",null,null,null,null,null,null,{"$f":"IF(OR(#REF!=0,#REF!=\"Select\"),0,1)","v":{"$error":"#REF!"}}]
["f","Computer damage",null,null,null,"Select"]
["g","Business interruption",null,null,null,"Select"]
["h","Office contents",null,null,null,"Select"]
["i","Political risk",null,null,null,"Select"]
["j","Other insurance (please provide details)",null,null,null,"Select"]
["Has any application for insurance by the applicant  or any predecessors in business ever been refused?",null,null,null,null,"Select"]
["Have any material insurance claims been made by  the applicant or any predecessors in business?",null,null,null,null,"Select",null,null,null,null,null,null,{"$f":"SUM(M5:M15)","v":{"$error":"#REF!"}}]
["Name(s) and address(es) of insurer(s):"]
[null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"M16/#REF!","v":{"$error":"#REF!"}}]

{"sheet":"V-Prior Issues","index":4,"n_rows":19,"n_cols":19,"rows_kept":19,"cut":false,"hidden":false,"merged":[[15,1,15,11],[13,1,13,11],[14,1,14,11],[0,0,0,15],[1,0,1,15],[2,0,3,12],[4,1,4,11],[5,1,5,11],[6,1,6,11],[9,1,9,11],[10,1,10,11],[11,1,11,11],[12,1,12,11],[7,1,7,11],[8,1,8,11],[2,13,3,15]]}
["Investment Business Licence and Registration Application Form",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Check"]
["Prior Issues"]
["If the answer to any of the questions below is yes, please give full particulars in the additional information column.",null,null,null,null,null,null,null,null,null,null,null,null,"Additional information, if required"]
[]
["a","Has the applicant ever applied for and been refused a licence or an equivalent authorisation or registration to conduct banking, investment, insurance or trust business in Bermuda or elsewhere?",null,null,null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,{"$f":"IF(OR(F5=0,F5=\"Select\"),0,1)","v":0}]
["b","Has the applicant failed to satisfy a judgement debt under a court order in Bermuda or elsewhere within a year of the making of the order?",null,null,null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,{"$f":"IF(OR(F6=0,F6=\"Select\"),0,1)","v":0}]
["c","Has the applicant made any compromise or arrangement with its creditors or otherwise failed to satisfy creditors in full?",null,null,null,null,null,null,null,null,null,null,"Select"]
["d","Has the applicant ever had a receiver appointed over any of its property in Bermuda, or has the substantial equivalent of any such person been appointed in any other jurisdiction? If so, give full particulars.",null,null,null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,{"$f":"IF(OR(F8=0,F8=\"Select\"),0,1)","v":0}]
["e","Has the applicant ever had a petition for an administration order or the substantial equivalent of such a petition served on it in any jurisdiction?",null,null,null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,{"$f":"IF(OR(F9=0,F9=\"Select\"),0,1)","v":0}]
["f","Has the applicant ever had a notice of resolution for liquidation in Bermuda, or had the substantial equivalent of such a notice given in any other jurisdiction?",null,null,null,null,null,null,null,null,null,null,"Select"]
["g","Has a petition ever been served in Bermuda for the compulsory liquidation of the applicant or any member of a group of which the applicant is a member or has the substantial equivalent of such a petition ever been served in any other jurisdiction?",null,null,null,null,null,null,null,null,null,null,"Select"]
["h","Has an inspector or other authorised officer of any government department or agency, professional association or other regulatory body appointed under any Bermuda law (e.g., the Companies Act 1981) or equivalent overseas enactment, ever investigated the affairs of the applicant or any member of a group of which the applicant is a member?",null,null,null,null,null,null,null,null,null,null,"Select"]
["i","Has the applicant or any member of a group of which the applicant is a member been required to produce books or records pursuant to section 110 of the Companies Act 1981 or similar provisions of regulatory legislation (e.g., section 40 of the Banks and Deposit Companies Act 1999) within Bermuda or elsewhere?\n",null,null,null,null,null,null,null,null,null,null,"Select"]
["j","Has the applicant or any member of a group of which the applicant is a member ever been censured, prosecuted or warned as to future conduct, or disciplined or publicly criticised by, or made the subject of a court order at the instigation of any supervisory or regulatory authority?",null,null,null,null,null,null,null,null,null,null,"Select"]
["k","Has the applicant or any member of a group of which the applicant is a member ever been refused entry in Bermuda or elsewhere to any professional body, stock exchange or trade association concerned with banking, trust or financial services?",null,null,null,null,null,null,null,null,null,null,"Select"]
["l","Is the applicant or any member of a group of which the applicant is a member engaged, or does it expect to be engaged in Bermuda or elsewhere in any litigation which may have a material effect on the resources of the undertaking?",null,null,null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,{"$f":"IF(OR(F16=0,F16=\"Select\"),0,1)","v":0}]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"SUM(S5:S17)","v":0}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"S18/#REF!","v":{"$error":"#REF!"}}]

{"sheet":"VI-Documentation Checklist","index":5,"n_rows":47,"n_cols":21,"rows_kept":47,"cut":false,"hidden":false,"merged":[[9,11,9,14],[11,11,11,14],[15,11,15,14],[13,11,13,14],[16,1,16,9],[16,11,16,14],[14,11,14,14],[13,1,13,9],[15,1,15,9],[14,1,14,9],[17,1,17,9],[17,11,17,14],[41,11,41,14],[37,11,37,14],[39,11,39,14],[25,11,25,14],[18,11,18,14],[19,11,19,14],[20,11,20,14],[21,11,21,14],[23,11,23,14],[22,11,22,14],[28,1,28,9],[25,1,25,9],[18,1,18,9],[26,1,26,9],[5,11,5,14],[7,11,7,14],[0,0,0,18],[1,0,1,18],[35,0,35,10],[7,1,7,9],[8,1,8,9],[3,0,3,18],[4,0,4,6],[5,1,5,9],[33,1,33,9],[6,1,6,9],[9,1,9,9],[10,1,10,9],[11,1,11,9],[29,1,29,9],[30,1,30,9],[31,1,31,9],[24,1,24,9],[41,1,41,9],[42,1,42,9],[34,1,34,9],[36,1,36,9],[37,1,37,9],[38,1,38,9],[39,1,39,9],[40,1,40,9],[27,1,27,9],[23,1,23,9],[22,1,22,9],[19,1,19,9],[20,1,20,9],[21,1,21,9]]}
["Investment Business Licence and Registration Application Form",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Check"]
["DOCUMENTATION CHECKLIST"]
[]
["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 or reports as it may deem necessary for the purpose of considering the application.\n\nNote: Whilst the Authority acknowledges that all documents required for a comprehensive 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's 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 declined, deferred or deemed insufficient for review."]
[]
[1,"Corporate Documents - Copies of the memorandum of association and bye-laws, certificate of incorporation, etc.\n",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","Upload File",null,null,null,null,null,null,null,null,{"$f":"IF(OR(K10=0,K10=\"Select\"),0,1)","v":0}]
[]
[4,"Personal Questionnaires in respect of the applicant's individual directors, controllers, senior executives and ultimate beneficial owners, accompanied by the respective supporting documentation stated therein  ",null,null,null,null,null,null,null,null,"Select","Upload File",null,null,null,null,null,null,null,null,{"$f":"IF(OR(K12=0,K12=\"Select\"),0,1)","v":0}]
[]
[5,"Copy of the applicant's corporate governance policy and any other supporting documents that evidence compliance with the BMA Corporate Governance Policy July 2020 and the nine Principles contained therein ",null,null,null,null,null,null,null,null,"Select","Upload File",null,null,null,null,null,null,null,null,{"$f":"IF(OR(K14=0,K14=\"Select\"),0,1)","v":0}]
[6,"Copy of the applicant's risk management policy (including a risk appetite statement) together with a risk register/matrix that identifies key risks and details how risk items are tracked, mitigated, monitored and controlled. ",null,null,null,null,null,null,null,null,"Select","Upload File",null,null,null,null,null,null,null,null,0]
[7,"Copy of the applicant's compliance policy (including regulatory compliance) and any other supporting compliance related documents/procedures.",null,null,null,null,null,null,null,null,"Select","Upload File",null,null,null,null,null,null,null,null,0]
[8,"Copy of the applicant's operational policies and procedure documents that fully detail work processes in connection with the proposed business activities ",null,null,null,null,null,null,null,null,"Select","Upload File",null,null,null,null,null,null,null,null,0]
[9,"Copy of the applicant's business continuity and disaster recovery plans",null,null,null,null,null,null,null,null,"Select","Upload File",null,null,null,null,null,null,null,null,0]
[10,"Copy of the applicant's cyber security policy and any other supporting documentation that evidence compliance with the BMA Operational Cyber Risk Management Code 2022",null,null,null,null,null,null,null,null,"Select","Upload File",null,null,null,null,null,null,null,null,0]
[11,"Policies and procedure documents utilised in connection with the applicant's Information Technology programme ",null,null,null,null,null,null,null,null,"Select","Upload File",null,null,null,null,null,null,null,null,0]
[12,"Copies of client agreements/standard investor agreements and fee structures (applicable and appropriate risk warnings must be included)",null,null,null,null,null,null,null,null,"Select","Upload File",null,null,null,null,null,null,null,null,0]
[13,"Copy of the applicant's outsourcing / third party service provider or vendor management policy",null,null,null,null,null,null,null,null,"Select","Upload File",null,null,null,null,null,null,null,null,0]
[14,"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,0]
[15,"Evidence of insurance coverage or evidence of engagement with an insurance provider outlining anticipated coverage \n(Name(s) and address(es) of insurer(s) to be provided)",null,null,null,null,null,null,null,null,"Select","Upload File",null,null,null,null,null,null,null,null,0]
[]
[17,"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,"Select","Upload File"]
["(i)","a copy of the applicant's AML/ATF  and Sanctions Policies (including regulatory compliance) and any other supporting compliance related documents/procedures.",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}]
["(ii)","a copy of the applicant's operational AML/ATF  and Sanctions policies and procedure documents that fully detail work processes in connection with those functions. "]
["(iii)","Business ML/TF Risk Assessment:\nThe applicant must submit its Business ML/TF Risk Assessment specific to the Bermuda business, which demonstrates the applicant's assessment of its ML/TF risk. The Business ML/TF Risk Assessment should also include the applicant's assessment of the results of the Bermuda ML/TF National Risk Assessment and its impact, if any on the Applicant, the mitigation measures in place and the consequent residual risks. \nNote: The business ML/TF risk assessment should include the identification of the applicant’s inherent risks (customer, geography, delivery channel and products/services) 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,{"$f":"IF(OR(K29=0,K29=\"Select\"),0,1)","v":0}]
["(iv)","Customer ML/TF Risk Assessment:\nThe applicant should submit its Customer ML/TF Risk Assessment Methodology, and accompanying Form/Tool (which can be tested) for new and ongoing business relationships.\nNote: The customer ML/TF risk assessment methodology and accompanying form/tool should adequately assess the ML/TF risks (customer, geography, delivery channel and products/services) in order to determine each customer’s risk rating, which in turn will determine the level of initial customer due diligence and ongoing monitoring required. The methodology should include consideration of events that would trigger a potential re-rating or ad hoc customer review.",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,null,{"$f":"IF(OR(K30=0,K30=\"Select\"),0,1)","v":0}]
["(v)","Outsourcing:\nWith 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,{"$f":"IF(OR(K31=0,K31=\"Select\"),0,1)","v":0}]
["(vi)","Compliance Officer & Money Laundering Reporting Officer (MLRO):\nInformation and/or evidence of the qualifications and experience of the applicant’s Compliance Officer and Money Laundering Reporting Officer.",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,null,{"$f":"IF(OR(K32=0,K32=\"Select\"),0,1)","v":0}]
[]
[18,"Application fee",null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,null,null,null,null,{"$f":"IF(OR(K34=0,K34=\"Select\"),0,1)","v":0}]
[]
["Applicants for a continuation of an overseas operation from a foreign jurisdiction into Bermuda must additionally provide:"]
[]
[19,"A certificate of good standing from the relevant regulatory authority in the foreign jurisdiction",null,null,null,null,null,null,null,null,"Select","Upload File",null,null,null,null,null,null,null,null,{"$f":"IF(OR(K38=0,K38=\"Select\"),0,1)","v":0}]
[]
[20,"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,{"$f":"IF(OR(K40=0,K40=\"Select\"),0,1)","v":0}]
[]
[21,"Copies of the most recent statutory financial statements and/or any other relevant financial information evidencing compliance of the applicant with (where applicable) the capital, solvency and liquidity requirements of the foreign jurisdiction",null,null,null,null,null,null,null,null,"Select","Upload File",null,null,null,null,null,null,null,null,{"$f":"IF(OR(K42=0,K42=\"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,{"$f":"SUM(U6:U42)","v":0}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,28]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"U45/U46","v":0}]

{"sheet":"VII-Declarations","index":6,"n_rows":30,"n_cols":19,"rows_kept":30,"cut":false,"hidden":false,"merged":[[0,0,0,15],[1,0,1,15],[3,0,3,6],[14,0,17,0],[4,0,5,12],[14,11,17,15],[11,0,11,12],[6,1,6,11],[7,1,7,11],[8,1,8,11],[18,11,18,15],[14,1,17,4],[14,6,17,9],[18,1,18,4],[18,6,18,9],[29,0,29,15],[22,0,25,0],[22,1,25,4],[22,6,25,9],[22,11,25,15],[26,1,26,4],[26,6,26,9],[26,11,26,15]]}
["Investment Business Licence and Registration Application Form",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Check"]
["DECLARATIONS"]
[]
[]
["I, (full name and address)"]
[]
[1,"Confirm that I have read and understand the provisions of the Investment Business Act 2003 (Act) and I declare that the business in respect of which this application is made will be conducted in accordance with the provisions of the Act, the Regulations and Codes of Conduct.",null,null,null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,{"$f":"IF(OR(F7=0,F7=\"Select\"),0,1)","v":0}]
[2,"Declare that the particulars supplied in the application are true to the best of my knowledge and belief.",null,null,null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,{"$f":"IF(OR(F8=0,F8=\"Select\"),0,1)","v":0}]
[3," Confirm that the applicant shall notify the BMA immediately if the information provided changes in any material way either prior to or subsequent to licensing or registration, as applicable.",null,null,null,null,null,null,null,null,null,null,"Select",null,null,null,null,null,{"$f":"IF(OR(F9=0,F9=\"Select\"),0,1)","v":0}]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"SUM(S7:S10)","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":"S11/S12","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"]
[]
[]
["WARNING: Any person who, in relation to an application for a licence or registration, issues a document or supplies information which is false or misleading in a material respect; or signs a document which is false or misleading in a material respect; or takes part in the preparation or issue of a document, or the supplying of information, which is false or misleading in a material respect, shall be guilty of an offence and liable on summary conviction to a fine of $25,000 or to imprisonment for two years or to both; and on conviction on indictment to a fine of $100,000 or imprisonment for four years (Section 82 of the Investment Business Act 2003). "]