Alle Vorschriften · AML/CFT Regulations 2020 · Part V: Appointment of compliance officer and alternative compliance officer
r.11 Fitness and proprietary
(1) Subject to the requirements under sections 34(2) of the Act, the supervisory authority shall be satisfied that the individual is fit and proper before granting approval for appointment of a compliance officer and alternative compliance officer and to determine the person’s suitability, the supervisory authority shall assess —
(a) the person’s probity, competence, experience and soundness of judgment for fulfilling the responsibilities and the functions;
(b) the diligence with which the person has fulfilled similar functions;
(c) the person’s educational and professional qualifications and the membership of professional or other relevant bodies, as applicable;
(d) the person’s knowledge and understanding of the professional obligations to be assumed or undertaken; and
(e) any other relevant information as may be determined by the respective supervisory authority.
(2) While considering the suitability of an individual, the supervisory authority shall have regard to the current, past, and prospective matters of each case on its own merits, to include the assessing of money laundering and terrorist financing risks related to the business operations of the reporting entity.
(3) While assessing the suitability of an individual, requirements for different sectors shall be assessed based on the specific requirements of the sector provided in Schedule 1 to these regulations.
(4) Reporting entity shall be responsible to satisfy the supervisory authority that the proposed compliance officer and alternative compliance officer have the relevant qualities, experience and skills to perform the duties of compliance officer or the alternative compliance officer, as the case may be.
(5) Upon appointment, it is the responsibility of the compliance officer to participate in all mandatory anti-money laundering and countering the financing of terrorism trainings provided by the respective supervisory authority and the supervisory authority may suspend or withdraw the fitness and propriety of the compliance officer, if he or she fails to participate in the mandatory trainings stipulated by the respective supervisory authority.
(a) the person’s probity, competence, experience and soundness of judgment for fulfilling the responsibilities and the functions;
(b) the diligence with which the person has fulfilled similar functions;
(c) the person’s educational and professional qualifications and the membership of professional or other relevant bodies, as applicable;
(d) the person’s knowledge and understanding of the professional obligations to be assumed or undertaken; and
(e) any other relevant information as may be determined by the respective supervisory authority.
(2) While considering the suitability of an individual, the supervisory authority shall have regard to the current, past, and prospective matters of each case on its own merits, to include the assessing of money laundering and terrorist financing risks related to the business operations of the reporting entity.
(3) While assessing the suitability of an individual, requirements for different sectors shall be assessed based on the specific requirements of the sector provided in Schedule 1 to these regulations.
(4) Reporting entity shall be responsible to satisfy the supervisory authority that the proposed compliance officer and alternative compliance officer have the relevant qualities, experience and skills to perform the duties of compliance officer or the alternative compliance officer, as the case may be.
(5) Upon appointment, it is the responsibility of the compliance officer to participate in all mandatory anti-money laundering and countering the financing of terrorism trainings provided by the respective supervisory authority and the supervisory authority may suspend or withdraw the fitness and propriety of the compliance officer, if he or she fails to participate in the mandatory trainings stipulated by the respective supervisory authority.
Amtliche Quelle: Anti-Money Laundering and Countering the Financing of Terrorism Regulations, 2020 (S.I. 108 of 2020), Revised Edition as at 17 January 2025 (S.I.s 108 of 2020, 139 of 2020, 156 of 2020, 6 of 2022, 67 of 2024)
