You must appoint at least 1 Compliance Officer, an employee or officer in a management level of a regulated dealer who is responsible for ensuring that the regulated dealer complies with the regulatory requirements under the Precious Metals (Prevention of Money Laundering, Terrorism Financing and Proliferation Financing) Act.

A regulated dealer can appoint other staff/employees to assist the appointed Compliance Officer as deemed fit.

A management level staff from your business can be appointed as a compliance officer. The compliance officer is responsible for handling all anti-money laundering, countering the financing of terrorism and countering proliferation financing compliance matters for your business.

You should therefore appoint an appropriate person who can be delegated the responsibility of ensuring that your business has proper Internal Policies, Procedures and Controls.