AML Compliance Person Designation and Duties

Henry Darius

Last Update 7 μήνες πριν

Miningwatchdog Marketplace: The firm has designated [Management] as its Anti-Money Laundering Program Compliance Person (AML Compliance Person), with full responsibility for the firm’s AML program. [Name] has a working knowledge of the BSA and its implementing regulations and is qualified by experience, knowledge and training, including [describe]. The duties of the AML Compliance Person will include monitoring the firm’s compliance with AML obligations, overseeing communication and training for employees, and [add any other duties your firm will assign to the AML Compliance Person; review NASD Rules 1021 and 1031[1] for any applicable registration requirements]. The AML Compliance Person will also ensure that the firm keeps and maintains all of the required AML records and will ensure that Suspicious Activity Reports (SARs) are filed with the Financial Crimes Enforcement Network (FinCEN) when appropriate. The AML Compliance Person is vested with full responsibility and authority to enforce the firm’s AML program.

The firm will provide FINRA with contact information for the AML Compliance Person through the FINRA Contact System (FCS), including (1) name; (2) title; (3) mailing address; (4) email address; (5) telephone number; and (6) facsimile (if any). The firm will promptly notify FINRA of any change in this information through FCS. It will review, and if necessary update, this information within 17 business days after the end of each calendar year. The annual review of FCS information will be conducted by [Name] and will be completed with all necessary updates provided by 17 business days following the end of each calendar year. In addition, if there is any change to the information, [Name] will update the information promptly, but in any event, by 30 days following the change.

Rules: 31 C.F.R. § 1023.210; FINRA Rule 3310; FINRA Rule 4517.

Resources: Regulatory Notice 07-42; NTM 06-07; NTM 02-78. Firms can submit their AML Compliance Person information through FINRA's FCS web page.

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