FC-3.1.9
So that he can carry out his
(a) Is a member of senior management of the licensee;
(b) Has a sufficient level of seniority within the insurance licensee , has the authority to act without interference from business line management and has direct access to the Board and senior management (where necessary);
(c) Has sufficient resources, including sufficient time and (if necessary) support staff, and has designated a replacement to carry out the function should the MLRO be unable to perform his duties;
(d) Has unrestricted access to all transactional information relating to any financial services provided by the insurance licensee to a customer , or any transactions conducted by the insurance licensee on behalf of that customer ;
(e) Is provided with timely information needed to identify, analyse and effectively monitor customer accounts;
(f) Has access to all customer due diligence information obtained by the insurance licensee ; and
(g) Is resident in Bahrain.
Amended: October 2011
Amended: January 2007
Amended: October 2007
Amended: January 2007
Amended: October 2007