• Systems and controls

    • GEN 5.7.12

      An Authorised Person must have appropriate arrangements in place to ensure that an individual assessed as being competent under Rule 5.7.7 maintains his competence.

    • GEN 5.7.13 GEN 5.7.13

      An Authorised Person must ensure, in the case of individuals seeking to perform the Recognised Functions of Money Laundering Reporting Officer or Compliance Officer, that such individuals are able to demonstrate sufficient knowledge of relevant anti-money laundering requirements.

      • Guidance

        In considering whether individuals have sufficient knowledge of relevant anti-money laundering requirements, the Authorised Person may be satisfied where the individual can demonstrate receipt of appropriate training specifically relevant to such requirements.

    • GEN 5.7.14

      An Authorised Person must establish and maintain systems and controls which will enable it to comply with Rules 5.7.6 to 5.7.9.

    • GEN 5.7.15

      (1) An Authorised Person must keep records of the assessment process undertaken for each individual under this Chapter.
      (2) These records must be kept for a minimum of six years from the date of the assessment.