Part

ML Money Laundering

Chapter

General money laundering duties

Printed on: 11/11/2024

Rulebook at: 21/04/2005

ML 2


General money laundering duties

ML 2.1

Duty to have arrangements and to appoint a money laundering reporting officer

  • 01/12/2004

ML 2.1.1

handbook-rule
A relevant firm must set up and operate arrangements, including the appointment of a money laundering reporting officer (MLRO) in accordance with the duty in ML 7, which are designed to ensure that it, and any appointed representatives that act on its behalf, are able to comply, and do comply, with the rules in this sourcebook.
  • 01/12/2001

ML 2.1.2

handbook-guidance
The duties of the MLRO are set out in full in ML 7. The MLRO is responsible for the oversight of the relevant firm's anti-money laundering activities and is the key person in the relevant firm's implementation of anti-money laundering strategies and policies.
  • 01/12/2001

ML 2.1.3

handbook-guidance
If a relevant firm permits or requires an appointed representative to carry on particular relevant regulated activities on its behalf, the relevant firm's duty to comply with this sourcebook and the MLRO's duties set out in ML 7 also apply to the activities of those appointed representatives.
  • 01/12/2001