AML/CFTR 2.3.9 Consideration of MLRO reports
(1) The senior management of a firm must promptly:
(a) consider each report made to it by the MLRO; and
(b) if the report identifies deficiencies in the firm's compliance with the AML/CFT Law or these rules — approve an action plan to remedy the deficiencies.
(2) For the report that must be given for each calendar year under rule 2.3.7 (2), the senior management must confirm in writing that it has considered the report and, if an action plan is required, has approved such a plan. The firm's MLRO must give the Regulator a copy of the report and confirmation before 1 June of the next year.
|Derived by QFCRA RM/2019-8 (as from 1st February 2020)|