MB-1 Risk-based Supervision of Approved Money Broker

Topic:

AML & CFT - AML/CFT Controls

Authorization - Minimum Criteria for Authorization

Authorization - Money Brokers

Banking Conduct & Enforcement - Complaints

Business Continuity Planning

Capital Adequacy - Capital Base

Corporate Governance - Board Directorship

Corporate Governance - Code of conduct

Internal Controls - Compliance function

Internal Controls - Internal audit function

Internal Controls - Risk management function

Liquidity Risk Management - Sound LRM framework

Operational Risk Management - Fraud risk management

Operational Risk Management - Operational and IT incident watch

Recovery planning

Supervisory Approach

Keyword: Policies/procedures Conflict of interest Systems/controls Transaction monitoring Incident response/management/recovery + Internal auditors Management information system Operational risk Operational continuity Regulatory reporting/disclosures CEs/ACEs Revocation/suspension Off-site review Board of Directors Technology risk Contingency planning Suspicious transaction reporting Controllers On-site examination Supervisory cooperation -

Group: Specific