• AML/CFTR Part 7.2 AML/CFTR Part 7.2 Particular record-keeping obligations

    • AML/CFTR 7.2.1 Records for customers and transactions

      (1) A firm must make and keep records in relation to:
      (a) its business relationship with each customer; and
      (b) each transaction that it conducts with or for a customer.
      (2) The records must:
      (a) comply with the requirements of the AML/CFT Law and these rules;
      (b) enable an assessment to be made of the firm's compliance with:
      (i) the AML/CFT Law and these rules; and
      (ii) its AML/CFT policies, procedures, systems and controls;
      (c) enable any transaction effected by or through the firm to be reconstructed;
      (d) enable the firm to comply with any request, direction or order by a competent authority, judicial officer or court for the production of documents, or the provision of information, within a reasonable time;
      (e) indicate the nature of any evidence that it obtained in relation to an applicant for business, customer or transaction; and
      (f) for any such evidence — include a copy of the evidence itself or, if this is not practicable, information that would enable a copy of the evidence to be obtained.
      (3) This rule is additional to any provision of the AML/CFT Law or any other provision of these rules.
      Derived by QFCRA RM/2019-8 (as from 1st February 2020)

    • AML/CFTR 7.2.2 Training records

      A firm must make and keep records of the AML/CFT training provided for the firm's officers and employees, including, as a minimum:

      (a) the dates the training was provided;
      (b) the nature of the training; and
      (c) the names of the individuals to whom the training was provided.
      Derived by QFCRA RM/2019-8 (as from 1st February 2020)