Back Custom print Link Text Only Rich Text Print

  • General Requirement

    • HC-2.1.1

      All persons wishing to undertake a controlled function in a conventional bank licensee must be approved by the CBB prior to their appointment (subject to the variations contained in Rule HC-2.1.3).

      October 07

    • HC-2.1.2

      Controlled functions are those of:

      (a) Director;
      (b) Chief Executive or General Manager;
      (c) Senior Manager;
      (d) Compliance officer;
      (e) Money Laundering Reporting Officer;
      (f) Deputy Money Laundering Reporting Officer; and
      (g) Financial Instruments Trader.
      Amended: October 2009
      October 2007

    • HC-2.1.3

      Prior approval is required for controlled functions (a), (b), (c), (d), (e) and (f). Controlled functions (d) and (e) may be combined, however (see also FC-4.1, regarding the MLRO function). Controlled function (g) does not require prior approval: instead, notification only is required, once the person concerned has accepted to undertake that function.

      Amended: October 2009
      October 2007