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  1. Point in time
    2006-08-30

ML 6.3 Training

ML 6.3.1R

A relevant firm must take reasonable care to provide appropriate anti-money laundering training for its staff who handle, or are managerially responsible for the handling of, transactions which may involve money laundering.

ML 6.3.2E
  1. (1)

    In taking reasonable care for the purposes of ML 6.3.1 R, the relevant firm should provide training which:

    1. (a)

      deals with the law on money laundering, and the responsibilities of staff under the relevant firm's arrangements;

    2. (b)

      is applicable to all staff who handle, or are managerially responsible for the handling of, transactions which may involve money laundering (see ML 6.2.1 R); and

    3. (c)

      takes place with sufficient frequency to ensure that within any period of 24 months it is given to substantially all of the staff referred to in (b).

  2. (2)

    Contravention of (1) may be relied on as tending to establish contravention with ML 6.3.1 R.

  3. (3)

    Compliance with (1) may be relied on as tending to establish compliance of ML 6.3.1 R.

ML 6.3.3G

These requirements do not preclude a rolling programme of training, under which training on different subjects takes place on different dates.