35. When the AML/CFT compliance officer acts for two or more entities within the group or is …

When the AML/CFT compliance officer acts for two or more entities within the group or is charged with other tasks, the credit or financial institution should ensure that these multiple appointments still allow the AML/CFT compliance officer to effectively perform his/her functions. The AML/CFT compliance officer should operate for different entities only if the entities are part of the same group. However, due to the specific nature of the collective investment undertakings sector¹⁷ , the AML/CFT compliance officer could service several funds.

4.2.3 Suitability, skills and expertise

¹⁷ A collective investment undertaking or CIU means a UCITS as defined in Article 1(2) of Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) or an AIF as defined in Article 4(1)(a) of Directive 2011/61/EU.

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

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