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FC-2.2.3

Investment firm licenseesG must consider the need to include automated transaction monitoring as part of their risk-based monitoring systems to spot abnormal or unusual flows of funds. In the absence of automated transaction monitoring systems, all transactions above BD 6,000 must be viewed as 'significant' and be captured in a daily transactions report for monitoring by the MLRO or a relevant delegated official, and records retained by the licenseeG for five years after the date of the transaction.

Amended: January 2007
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(2 Versions)
 
Up to Jun 30 2007Jul 1 2007 onwards
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