Reporting to the Central Bank

1. A crowdfunding company shall submit reports to the Central Bank in the prescribed form within thirty (30) days of the period specified below:
    
   1. Category 1: Quarterly (as of the end of 31 March, 30 June, 30 September and 31 December);
       
   2. Category 2: Semi-annually (as of the end of 30 June and 31 December); and
       
   3. A crowdfunding company shall file its annual audited financial statements with the Central Bank.
       
2. The crowdfunding company shall report the following (at a minimum) to the Central Bank:
    
   1. Financial position;
   2. Client money held;
   3. Description of complaints received and resolution status of these complaints;
   4. Details of loans arranged each quarter; and
   5. Defaults and near-defaults.

Record keeping

3. A crowdfunding company shall maintain adequate books and records at all times.
    
4. All records and materials must be made available for inspection by the Central Bank from time to time.
    
5. Records of Client Money and completed transactions shall be kept for a minimum period of ten (10) years.
    
6. The records maintained shall include:
    
   1. Historical records of information displayed online (websites / social media / any other media) and any print copies, if applicable, displaying the crowdfunding company’s promotional communication, advertisements or online banners and tag lines;
       
   2. Internal policies, procedures and operating documents;
       
   3. Corporate and financial records and general ledger and sub-ledgers;
       
   4. Reports and statements issued to Clients and regulators;
       
   5. Any communications related to Clients, including confirmations related to risk understanding, classification documents and confirmation related to classification, amongst others;
       
   6. All suitability assessments of Clients, including any clients (both Lenders and Borrowers) that were deemed not suitable by the crowdfunding company.
       
   7. Management information, accounts and communications.
       
   8. HR records; and
       
   9. IT architecture and security related documents.
       
7. The board of the crowdfunding company is directly responsible to the Central Bank in relation to reporting breaches.