The International Regulatory Authority of Grande Comore (IRAGC) is committed to maintaining a transparent and accountable financial ecosystem through a robust reporting framework. All licensed entities are required to submit regular reports to ensure compliance with regulatory standards and to safeguard the integrity of the offshore financial sector. Our reporting obligations are designed to provide clear insights into the operations of licensees, enabling proactive oversight and swift response to potential risks.

Licensees must submit annual audited financial statements within three months of their fiscal year-end, detailing their financial health, capital adequacy, and compliance with prudential standards. Quarterly financial reports are also mandatory, offering a snapshot of ongoing operations, including revenue, expenses, and significant transactions. For entities holding a Virtual Asset Service Provider (VASP) or Brokerage License, additional quarterly reports on digital asset holdings or client fund segregation are required to ensure transparency and security. Ad hoc reports must be filed within seven days of any significant event, such as data breaches, ownership changes, or suspected AML/CTF violations, allowing IRAGC to address issues promptly.

To facilitate compliance, IRAGC provides an online reporting portal where licensees can securely upload documents, track submission statuses, and access guidance on reporting requirements. Annual compliance reports, including details on AML/CTF measures, cybersecurity audits, and consumer complaint resolutions, must be submitted to demonstrate adherence to regulatory guidelines. Late filings incur a penalty of $100 per day, up to a maximum of $5,000, to encourage timely submissions.

IRAGC conducts periodic reviews and inspections based on submitted reports, with findings shared with licensees to support continuous improvement. Entities are encouraged to self-report minor compliance issues to avoid penalties, fostering a collaborative approach to regulation. Detailed reporting templates and the IRAGC Reporting Manual are available for download on our portal, and our support team is available to assist with any questions or clarifications. For the latest reporting deadlines and updates, subscribe to our newsletter or contact our compliance department.