Financial reporting for licensees

When to report your financial information

Licensees will be required to report their financial information or continued compliance with the regulation and MFR policy at certain times including: 

  • On application for a licence;
  • Where the Maximum Revenue requires adjustment;
  • Where the Net Tangible Asset position has decreased by more than 30% for licensees within Categories SC1 – Category 3 and by more than 20% for all other licensees
  • On compliance audit;
  • Pursuant to an approved audit program;
  • On expiry of the Licensee’s Professional Indemnity Insurance Policy;
  • On request by the Licensee; 
  • Change of ownership of officeholders;
  • Restructure of partnership;
  • Change or withdrawal of Covenantors; or
  • At the discretion of the Commission.