Cancellation of VASP Licences, Registrations or Waivers

The new VASP measures are:

• CIMA Rule – Cancellation of Licences, Registrations, or Waivers
• CIMA Regulatory Procedure – Cancellation of Licences, Registrations, or Waivers

Publication of these measures follows the circulation of proposed measures in draft in a March 2025 Consultation.

Key changes from the Consultation versions of the measures include:

• the Rule and Regulatory Procedure now refer to waivers in addition to cancellation of licenses / registrations
• material changes are to be notified to CIMA within 15 days of a VASP becoming aware of the change
• greater clarity as to the confirmation required from a VASP Compliance Officer
• greater clarity as to stakeholder confirmations
• flexibility around final audit reports submitted to CIMA, depending on the size, nature, and complexity of the VASP’s business