Prudential Regulation Authority Rulebook

6.1

This chapter applies to the carrying on of an auction regulation bidding, to the extent that it relates to the obligation to establish, implement and maintain adequate policies and procedures for countering the risk that the firm (including its managers, employees and appointed representatives) might be used to further financial crime.

6.2

A firm must establish, implement and maintain adequate policies and procedures sufficient to ensure compliance of the firm including its managers, employees and appointed representatives (or where applicable, tied agents) with its obligations under the regulatory system and for countering the risk that the firm might be used to further financial crime.

6.3

In order to ensure compliance in accordance with 6.2, a firm that carries on designated investment business with or for retail clients or professional clients must appoint a compliance officer who is responsible for compliance.