Investment firm licensees should note that although the MLRO may delegate some of his functions, either to other employees of the licensee, or even (in the case of larger groups) to individuals performing similar functions for other group entities, the responsibility for compliance with the requirements of this Module remains with the licensee and the designated MLRO. The deputy MLRO should be able to support the MLRO discharge his responsibilities and to deputise for him in his absence.
Amended: January 2007