• General Rule 11.2 General Rule 11.2 Description of Registered Functions

    Amended (as from 23rd September 2014)

    • General Rule 11.2.1

      Subject to General Rule 11.3, Licensed Firms must have one individual registered to carry out the following functions:

      (A) a Senior Executive Function;
      (B) if applicable, the MLRO and in compliance with the requirements of the AML/CFT Law and the AML/CFT Rules under the supervision of the Regulatory Authority; and
      (C) if applicable, the Designated Representative Function and in compliance with the requirements of the Single Family Office Regulations.
      Amended (as from 25th June 2019)

    • General Rule 11.2.2

      If more than one individual is appointed to perform the Registered Functions listed in General Rule 11.2.1 (A) and (B), the Licensed Firm must ensure that the allocation of responsibility clearly avoids duplication or omission.

      Inserted (as from 23rd September 2014)