Holders of Trust Licenses are currently required to have their accounts audited annually by an auditor approved by CIMA and submit a copy of the audited accounts to CIMA within three months of the trust company's financial year-end.
See current reporting schedule for prudential and statistical returns for all CIMA-regulated entities:
Holders of Trust Licenses are required to complete a Bi-annual Report and submit it to the Fiduciary Services Division through the REEFS portal. Please click the following link to visit the REEFS portal login webpage: https://reefs.cimaconnect.com/
The Dormant Accounts Act, its Regulations and subsequent amendments (collectively referred to as the 'Act'), requires certain financial institutions ('account providers') to transfer monies that are in dormant accounts in their institutions to the Government after seven years of account inactivity. For further information, see Dormant Accounts: Information for Account Providers
Be the first to know about releases and industry news and insights.