AML 1 AML 1 Introduction
AML 1.1 AML 1.1 Application
This module (AML) applies to:(a) every
Relevant Personin respect of all its activities carried on in or from the DIFC;(b) the persons specified in Rule 1.2.1 as being responsible for a Relevant Person'scompliance with this module; and(c) a Relevant Person, which is a DIFCentity, to the extent required by Rule 14.1.
except to the extent that a provision of AML provides for a narrower application.
For the purposes of these Rules, a
Relevant Personmeans:(a) an Authorised Firmother than a Credit Rating Agency;(b) an Authorised Market Institution;(c) a DNFBP; or(d) a Registered Auditor.
AML 1.2 AML 1.2 Responsibility for compliance with this module
AML 1.2.1(1) Responsibility for a
Relevant Person'scompliance with this module lies with every member of its senior management.(2) In carrying out their responsibilities under this module every member of a Relevant Person'ssenior management must exercise due skill, care and diligence.(3) Nothing in this Rule precludes the DFSAfrom taking enforcement action against any person including any one or more of the following persons in respect of a breach of any Rule in this module:(a) a Relevant Person;(b) members of a Relevant Person'ssenior management; or(c) an Employeeof a Relevant Person.Derived from RM117/2013 [VER9/07-13]
AML 1.3 AML 1.3 Application table
AML 1.3 Guidance
Relevant Person Applicable Chapters Authorised Person 1–14 Representative Office 1–5* 10- 14 Registered Auditor 1 -8 10–14 DNFBP 1–8 10–15
* Chapters 6–9 are unlikely to apply to a
Representative Officeas such an office is only permitted to carry on limited activities in the DIFCand therefore must not have Customers.