| 1. | On a monthly basis, VASPs shall as a minimum submit to VARA the following information—
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| | a. | their balance sheet and a list of all off-balance sheet items; |
| | b. | their statement of profit and loss; |
| | c. | their income statement; |
| | d. | their cashflow statements; |
| | e. | addresses of their VA Wallets; |
| | f. | a full list of Entities in their Group that actively invest their own, or the Group’s, portfolio in Virtual Assets, and a complete record of all transactions, including but not limited to loans or any transactions involving any VA Activity for which the VASP is Licensed, with all such Entities identified; and |
| | g. | transactions with Related Parties as prescribed in the Company Rulebook.
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| 2. | On a quarterly basis, VASPs shall as a minimum submit to VARA the following information—
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| | a. | the minutes of all Board meetings and Board committee meetings; |
| | b. | a statement demonstrating compliance with any financial requirements established by VARA including but not limited to Reserve Assets; |
| | c. | financial projections and strategic business plans; and |
| | d. | a risk exposure report prepared and submitted to the Board in accordance with Rule I.D.4 of this Compliance and Risk Management Rulebook.
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| 3. | On an annual basis, VASPs shall as a minimum submit to VARA the following information—
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| | a. | audited annual financial statements, together with an opinion and an attestation by an independent third-party auditor regarding the effectiveness of the VASP’s internal control structure; |
| | b. | an assessment by Senior Management of the VASP’s compliance with such applicable laws, Regulations, Rules and Directives during the fiscal year covered by the financial statements; |
| | c. | certification of the financial statements by a member of the Board or a Responsible Individual attesting to the truth and correctness of those statements; |
| | d. | a representative sample of all documentation relating to client onboarding (including actual documentation of the first one hundred (100) clients onboarded of the year); |
| | e. | descriptions of product offerings relating to their VA Activities; |
| | f. | Group structure chart including shareholding of the VASP and the identity of all UBOs; |
| | g. | the names of each of the members of the Board and the Senior Management in the VASP, a brief biography of each such member including their qualifications and experience and any position that a member of the Board or the Senior Management holds in other Entities; |
| | h. | the identification of any independent director(s) if applicable; |
| | i. | the names of all the members of any committees, the authorities and assignments entrusted thereto, and activities carried out by the committees during that year; and |
| | j. | the number of meetings held by the Board and the committees, and the names of the attendees.
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| 4. | VARA may require upon request to a VASP, information to be provided in addition to those listed in Rule I.F.1 of this Compliance and Risk Management Rulebook.
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