13.1.1. Who can act as Money Laundering Reporting Officer

The MLRO function must be carried out by an individual who has responsibility for the implementation and oversight of an Authorised Person's AML policies, procedures, systems and controls and can act independently in this role.

If MLRO function is carried out solely, it must be carried out by an individual who is at an appropriate level of seniority (for example, at the same level of authority as a Director, Partner, Principal Representative, or Senior Manager of an Authorised Person).

If MLRO function is carried out as a special function delegated by a Compliance Officer to a designated individual (MLRO), then such individual’s independence in decision-making must be preserved[1].

13.1.2. Appointment of Money Laundering Reporting Officer

A Relevant Person must appoint an individual as MLRO, with responsibility for implementationand oversight of its compliance with the AML Rules, who has an appropriate level of seniority and independence to act in the role.

An Authorised Firm, other than a Representative Office, must appoint an individual to act as a deputy MLRO of the Authorised Firm to fulfil the role of the MLRO in his or her absence.

13.1.3. Residency Requirement

The MLRO must be resident in the Republic of Kazakhstan except in the case of the MLRO for a Registered Auditor.

Guidance on appointment of Money Laundering Reporting Officer

1. (a) Under GEN 2.1.2, the MLRO function is a mandatory appointment.
2. (b) A Relevant Person other than an Authorised Firm should make adequate arrangements to ensure that it remains in compliance with these Rules in the event that its MLRO is absent. Adequate arrangements would include appointing a temporary MLRO for the period of the MLRO's absence or making sure that the Relevant Person’s AML systems and controls allow it to continue to comply with these Rules when the MLRO is absent.