SIO-5.4 Compliance Function
SIO-5.4.1
Stablecoin issuers must establish a permanent and effective compliance function to manage compliance risk and appoint a competent person as compliance officer.
Added: July 2025SIO-5.4.2
Stablecoin issuers may combine the position of compliance officer with the money laundering reporting officer provided there is no conflict of interest between the tasks performed and the size, internal organisation, business model, and nature, scale and complexity of the licensee’s activities is such that the licensee can effectively meet the regulatory requirements.
Added: July 2025SIO-5.4.3
Stablecoin issuers must seek the CBB’s prior written before combining the positions of head of compliance and money laundering reporting officer functions referred to in Paragraph SIO-5.4.2.
Added: July 2025SIO-5.4.4
Employees within the compliance function must possess sufficient knowledge, skills and experience in relation to compliance and relevant procedures and should undergo regular training.
Added: July 2025SIO-5.4.5
Stablecoin issuers must have a well-documented compliance policy, and the senior management must oversee the implementation of the compliance policy. Stablecoin issuers must set up a process to regularly assess changes in the law and regulations applicable to its business activities.
Added: July 2025SIO-5.4.6
The compliance function should advise the board and senior management body on measures to be taken to ensure compliance with applicable laws, rules, regulations and standards, and should assess the possible impact of any changes in the legal or regulatory environment on the stablecoin issuer’s activities and compliance framework.
Added: July 2025
