AML-3.1.7
So that he can carry out his functions effectively,
(a) Is a Director or a member of senior management of the Capital Market Licensees ;
(b) Has a sufficient level of seniority within the Capital Market Licensees , 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 Capital Market Licensees to that customer, or any transactions conducted by the Capital Market Licensees on behalf of a customer;
(e) Is provided with timely information needed to identify, analyze and effectively monitor customer accounts;
(f) Has access to all customer due diligence information obtained by the Capital Market Licensees ; and
(g) Is resident in Bahrain.
Amended: January 2022
Added: October 2010
Added: October 2010