Personal Management Licence Update – Changes to take effect on 29 November 2024

This is the wording of the new condition:

“1.2.1 (2). The specified management offices are those offices (whether or not held by a director in the case of a licensee which is a company, a partner in the case of a licensee which is a partnership or an officer of the association in the case of a licensee which is an unincorporated association) the occupier of which is by virtue of the terms of their appointment responsible for:

i. the licensee’s anti-money laundering and counter-terrorist financing function as head of that function his is likely to include the following:

a. for holders of casino licences, the person responsible for compliance with the relevant regulations (and appointed in accordance with those regulations); and the person responsible for submission of reports of known or suspected money laundering or terrorist financing activity under the relevant legislation (and appointed in accordance with the relevant regulations)

b. for holders of licences other than casino licences, where an individual has been appointed to submit reports of known or suspected money laundering or terrorist financing activity under the relevant legislation, that individual.”

The two management positions with responsibility for ensuring compliance with Anti-Money Laundering (“AML”) legislation are the Money Laundering Compliance Officer (“MLCO”) and the Money Laundering Reporting Officer (“MLRO”), referred to in The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (“the Regulations”) as the Nominated Officer.

From 29th November 2024, the MLCO and the MLRO will both be required to hold a PML. For non-remote and remote casino operating licence holders (including holders of casino game host licences) these are the two management positions with specific responsibility for ensuring compliance with AML legislation and in particular The Regulations. 

In addition to being appointed in accordance with Regulation 21 (Internal Controls) of the Regulations both postholders will be required to have PML’s in place by 29^th November 2024.

Although it has been the Commission’s expectation that the Nominated Officer for Casinos holds a PML this expectation will become a mandatory requirement under the amended LCCP. 

The revised licence condition also extends the obligation that a Money Laundering Reporting Officer in other gambling sectors holds a PML.

Additionally, where a Chief Executive Officer does not already hold a PML by occupying another specified management office then they must ensure that they have applied for and secured a PML by 29^th November 2024.

Likewise, where a Board Chairman is appointed on a permanent basis, as opposed to being elected to this position for a single meeting, they are required to hold a PML from 29^th November 2024.

The Commission’s consultation in Summer 2023 made clear that these changes were to enhance accountability and at the same time drive up standards as the Commission, in assessing applications, will need to be satisfied that the holders of the two AML functions are suitably qualified and have received appropriate training.

The PML application process for these additional post-holders opened on 1 June 2024, and applications should be submitted promptly to ensure compliance by 29 November 2024. For additional information, click here.

Any queries in relation to the amended LCCP should be directed to Andrew Cotton or Philip Somarakis in Irwin Mitchell's Regulatory and Criminal Group.