Frequently asked question
Which anti-money-laundering officers must a Cayman fund appoint?
Compliance & AML
A fund conducting relevant financial business must designate individuals to perform the AMLCO, MLRO and DMLRO functions. These are three roles, not necessarily three different people. The AMLCO may also act as MLRO or DMLRO where the individual is competent and has sufficient capacity. The MLRO and DMLRO must be different people. Appointments, reporting lines, access to information and board oversight must support effective performance of each role.
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Related definition: Anti-Money Laundering Compliance Officer.