CRD Welcome Package

Restriction on advertising likely to mislead the public 93. (1) No licensed financial institution shall engage in advertising practices which are likely to mislead the public concerning: (a) the relationship of the licensed financial institution to the Central Bank or any department or official of the Central Bank; (b) the interest rate paid on deposits or charged on credit; (c) the insured or guaranteed status of deposits or other liabilities of the licensed financial institution; (d) the financial condition of the licensed financial institution.

(2) Any licensed financial institution which contravenes subsection (1) commits an offence and is liable on summary conviction to a fine not exceeding fifty thousand dollars for each contravention.

Agreement or arrangement with foreign supervisory authority 94. The Central Bank may enter into an agreement or arrangement for coordination, cooperation, and the exchange of information with a foreign supervisory authority with responsibility to supervise financial institutions, financial holding companies, or other similar institutions, and with a foreign resolution authority or other government agency with direct responsibility for matters relating to the resolution of failing or failed financial institutions, if different from the supervisory authority, where the Central Bank is satisfied that the foreign authority has the obligation to protect the confidentiality of the information imparted. 95. At the request of a Participating Government, the Central Bank shall arrange for that Participating Government to be supplied with a copy of any statement or return furnished by a licensed financial institution under subsection (3) of section 89 in relation to its operation in the territory of that Government and all statements and returns so supplied shall be regarded by the Government as secret. Furnishing of statement or return to participating governments

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