HIT THE GROUND RUNNING IN GERMANY – OUTSOURCING MLRO for Investment Firms in Germany
Are you looking for a MLRO for your Investment Firm? We offer outsourcing solutions for outsourcing MLRO for Investment firms. We take on the following tasks for the establishment of an audit-proof risk management for money laundering prevention:
In order to ensure sufficient compliance for the prevention of money laundering, the following 16 compliance obligations must be mandatorily implemented when outsourcing money laundering officers to capital management companies:
Outsourcing MLRO for Investment firms
Securities institutions, groups of securities institutions, investment holding companies, mixed financial holding companies as well as parent companies of groups of securities institutions must, without prejudice to the obligations listed in §§ 4 to 6 of the Money Laundering Act as well as the organisational obligations contained in this Act, have an appropriate risk management system as well as internal security measures in place to prevent criminal acts that may lead to a threat to the assets of the securities institution.
and to set up internal security measures. These serve to prevent money laundering, terrorist financing or other criminal acts that could endanger the assets of the institution.
Within the meaning of Section 33 (5) of the Securities Institutions Act and the duties to prevent criminal acts within the meaning of paragraph 1 sentence 1 may also be performed by one office (central office) at the investment firm. The Federal Financial Supervisory Authority may, at the request of the company, permit another office within the institution to be responsible for preventing criminal acts, provided there is good cause for doing so.