CTRL Chapter 4 Senior management

Notes for Chapter 4

1 The senior management of an authorised firm is made up of the individuals who are approved to exercise the controlled functions mentioned in rule 4.1.1 (a). Although the individuals who are approved to exercise the MLRO function and the internal control and assurance functions (risk management function, compliance oversight function, internal audit function and actuarial function) form part of an authorised firm’s senior management, those controlled functions are not specifically further dealt with in Chapter 4.
2 For firms’ obligations in relation to the MLRO function, see:
• for general insurance firms — AMLG
• for all other authorised firms — AML/CFTR.
3 The internal control and assurance functions are dealt with in Chapter 6.

 

Derived from QFCRA RM/2012-4 (as from 1st July 2013)
Amended by QFCRA RM/2020-4 (as from 1st July 2021)