Entire Section

  • AML 15.1 AML 15.1 Registration and Notifications

    • AML 15.1.1

      An applicant for registration as a DNFBP must apply to the DFSA by completing and submitting the appropriate form in the AFN Sourcebook.

      Derived from RM117/2013 [VER9/07-13]
      [Amended] DFSA RM223/2018 (Made 18th April 2018). [VER14/07-18]

    • AML 15.1.2

      (1) To be registered as a DNFBP, an applicant must demonstrate to the DFSA's satisfaction that:

      (a) it is fit and proper to perform anti-money laundering functions; and
      (b) it has adequate resources and systems and controls, including policies and procedures, to comply with applicable anti-money laundering requirements under Federal AML legislation, the Regulatory Law and these Rules.

      (2) In assessing if an applicant is fit and proper under (1)(a), the DFSA may, without limiting the matters it may take into account under that paragraph, consider the applicant, its senior management, its beneficial owners, other entities in its Group and any other person with whom it has a relationship.

      (3) The DFSA will in assessing if an applicant is fit and proper, consider the cumulative effect of matters that, if taken individually, may be regarded as insufficient to give reasonable cause to doubt the fitness and propriety of the applicant.

      Derived from DFSA RM223/2018 (Made 18th April 2018). [VER14/07-18]

    • Annual Information Return

      Derived from DFSA RM223/2018 (Made 18th April 2018). [VER14/07-18]

      • AML 15.1.3

        A DNFBP must complete the annual information return in AFN for each calendar year and submit the return to the DFSA by 31 January of the following year.

        Derived from DFSA RM223/2018 (Made 18th April 2018). [VER14/07-18]

    • Notification of changes

      Derived from DFSA RM223/2018 (Made 18th April 2018). [VER14/07-18]

      • AML 15.1.4

        A DNFBP must promptly notify the DFSA of any change in its:

        (a) name;
        (b) legal status;
        (c) address;
        (d) MLRO; or
        (e) senior management; or.
        (f) beneficial ownership.
        Derived from RM117/2013 [VER9/07-13]
        [Amended] DFSA RM196/2016 (Made 7th December 2016). [VER13/02-17]
        [Amended] DFSA RM223/2018 (Made 18th April 2018). [VER14/07-18]