With respect to Paragraph CRA-4.11.4(b), the appointment of an individual as Compliance Officer is subject to CBB's prior approval. The CBB may, at its discretion, may allow the compliance office of a licensee to also act as the licensee's Money Laundering Reporting Officer, provided the licensee is able to demonstrate to the satisfaction of the CBB, that the nature, scale and complexity of the business is such that both the functions can be carried out effectively by the Compliance Office without compromising on supervisory objectives.