N.Y. Comp. Codes R. & Regs. tit. 3 § 406.10
Current through Register Vol. 46, No. 43, October 23, 2024
Each licensee shall file the following reports giving such information as may be required by the superintendent concerning its business and operations.
(a) Reports of locations. A licensee engaging in money transmission in this State, either directly or through agents and subagents shall file with the superintendent, in connection with its application for license or license renewal, a statement showing the number of such locations within this State and the number of such locations elsewhere in the United States as of 30 days preceding such filing.(b) Financial reports. Every licensee shall file with the superintendent quarterly financial statements within 45 days following the close of the licensee's fiscal quarter and an annual financial statement, audited by an independent certified public accountant, within 120 days following the close of the licensee's fiscal year. Such financial statements shall include a balance sheet, a profit and loss statement, and a statement of retained earnings.(c) Reports of misconduct. Every licensee shall submit a report to the superintendent immediately upon the discovery of any of the events listed in Part 300 of the superintendent's regulations. Such report shall be submitted as set forth in Part 300.(d) Reports of business. Every licensee shall submit a report to the superintendent within 45 days following the close of each calendar quarter reflecting in dollars the monthly sales of travelers checks, money orders, checks, drafts, wire or electronic transfers or other instruments or orders for the transmission or payment of money in or from this State by the licensee and its agents and subagents and the aggregate monthly sales of such instruments sold elsewhere in the United States by the licensee and its agents and subagents during the previous calendar quarter. Sales of money orders, travelers checks and all other such instruments sold should be reported separately for each instrument. In addition at the end of every calendar quarter every licensee should report the amount of the permissive investments (as defined in section 640.9 of the Banking Law) it holds and the amount of its outstanding liabilities reported separately for travelers checks, money orders and all other such instruments sold.N.Y. Comp. Codes R. & Regs. Tit. 3 § 406.10