Central Bank of the UAEchapter by chapter

Article 2.1-2.3Article 2: Licensing

No person may conduct Exchange Business in the UAE without a Central Bank licence under the Central Bank Law and Exchange Houses Regulation, though banks already licensed under that Law are deemed licensed.

Article 3.1-3.6Article 3: License Categories and Permitted Activities

Applicants for exchange house licences must choose one of four categories: I (currency exchange, remittances, WPS payroll), II (exchange and remittances), III (exchange only), IV (digital remittances only).

Article 3.7-3.9Article 3: License Categories and Permitted Activities

The Central Bank may issue Licence Notification Orders to Category I and II licensed persons permitting Retail Payment Services, Stored Value Facilities or Special Products, subject to conditions.

Article 3.10-3.13Article 3: License Categories and Permitted Activities

Central Bank may require a Category III licensee to upgrade within a grace period or lose its licence; licensees must continuously provide exchange services strictly within licence scope.

Article 3.14Article 3: License Categories and Permitted Activities

IMTS Providers must register with the Central Bank and comply with AML laws before working with Licensed Persons.

Article 4.1-4.2Article 4: Licensing Procedure

Licence applicants must follow the Central Bank's licensing guidelines procedure and meet the Licensing Department before submitting a formal application.

Article 5.1-5.2Article 5: Licensing Conditions

Applicants for an Exchange House licence must meet legal form, ownership, paid-up capital, bank guarantee and eligibility requirements at application, and submit the completed form with supporting documents and undertakings.

Article 6.1-6.4Article 6: Acceptable Legal Forms

Exchange house applicants and licensees must use a Central Bank-acceptable legal form; Category IV licensees must be LLCs, and changes need a no-objection letter.

Article 7.1-7.9Article 7: Ownership Requirements

Sole establishments must be wholly owned by a UAE National, with non-UAE ownership capped at 40% and ultimate UAE National ownership never below 60%; ownership changes require prior approval.

Article 8.1-8.6Article 8: Minimum Paid-up Capital

Exchange houses must inject minimum paid-up capital before receiving the final licence, ranging from AED 2 million to AED 25 million by category and legal form, and maintain it ongoing.

Article 9.1-9.10Article 9: Minimum Bank Guarantee

Exchange houses must post a bank guarantee or interest-free cash deposit with the Central Bank, set by licence category and legal form, then maintain the higher of the minimum or 5% of average monthly remittance turnover.

Article 10: Eligibility to be a Sole Proprietor, Partner or Shareholder

The Central Bank assesses the fitness and propriety of owners, shareholders, partners and ultimate beneficial owners of Licensed Persons, covering integrity, professional ethics, good practice and competence.

Article 11.1Article 11: Financial Ratios

Exchange Houses must maintain the Central Bank-stipulated paid-up capital to equity ratio, applying for a license-related capital injection within 15 days of breach, with a 12-month grace period for new businesses.

Article 11.2Article 11: Financial Ratios

Licensed Persons must keep the total assets to paid-up capital ratio within the Central Bank limit, and if breached, approach the Central Bank for instructions within 7 calendar days.

Article 11.3Article 11: Financial Ratios

An exchange house must keep its Total Assets to Equity ratio within the Central Bank limit, consolidated where applicable, and on breach contact the Central Bank within 7 calendar days and comply within its deadline.

Article 11.4Article 11: Financial Ratios

Exchange houses must keep their current-assets-to-current-liabilities liquidity ratio at or above the Central Bank level, and on breach must seek an LNO and inject paid-up capital within seven days.

Article 11.5Article 11: Financial Ratios

Exchange houses must not exceed the Central Bank's debt-equity ratio limit; on breach, they must approach the Central Bank within 7 days and comply within the given time.

Article 12.1-12.3Article 12: Information Technology (IT) Infrastructure

Exchange houses must implement IT infrastructure supporting AML/CFT compliance, transaction processing, reporting, reconciliation and risk management, and must not use covert software or hidden books to evade obligations.

Article 13.1-13.2Article 13: Corporate Governance, Management and Oversight

A Licensed Person must maintain a head office in the UAE where its full leadership and management team is based, and may open a separate management office under prevailing licensing procedures.

Article 13.3Article 13: Corporate Governance, Management and Oversight

Exchange house licensees must appoint a Board of Directors overseeing Senior Management, and require the chairman, board majority and heads of functions to be UAE Nationals or UAE-based residents.

Article 13.4Article 13: Corporate Governance, Management and Oversight

The board of directors or management committee must set corporate strategy, oversee governance, risk, compliance and audit, review remedial plans, monitor financial performance, and elect a chairman and vice-chairman.

Article 13.5Article 13: Corporate Governance, Management and Oversight

Licensed Persons must establish at least three committees: Audit, Risk, and Regulatory and Financial Crime Compliance, subject to any related Standards requirements.

Article 13.6Article 13: Corporate Governance, Management and Oversight

Firms must appoint a natural person as Chief Executive Officer reporting to the Board or owner, and fill all mandatory positions and Designated Functions with natural persons, without combining Designated Functions with other roles absent a Central Bank exception.

Article 13.7Article 13: Corporate Governance, Management and Oversight

Exchange houses must establish an internal audit function reporting directly to the Board or owner, covering all activities, branches, reconciliation, unclaimed funds, financial ratios, AML/CFT and regulatory compliance.

Article 13.8Article 13: Corporate Governance, Management and Oversight

The Board or owner of an exchange house must establish a risk management function with policies, systems and controls to identify, monitor and report risks, reviewed periodically and approved.

Article 13.9Article 13: Corporate Governance, Management and Oversight

Where a licensed person belongs to a group and group management directly or indirectly runs its affairs, the group management structure must meet the Central Bank's Standards.

Article 14.1-14.3Article 14: Human Resources

Exchange houses must maintain a human resources management function, a board or owner-approved HR policy meeting minimum standards, and training programs for all employees.

Article 15.1-15.2Article 15: Outsourcing of Functions

Functions may not be outsourced without a Local Notifiable Obligation, and core Exchange Business activities must not be outsourced.

Article 16: Anti-Fraud Framework

The CEO and Board, or owner, must implement an anti-fraud framework under the Standards to prevent, detect, investigate and respond to fraud incidents at exchange houses.

Article 17.1-17.2Article 17: Business Continuity Management

Exchange houses must identify and analyse business disruption risks, maintain a business continuity management framework with a business continuity plan, and test the plan at least annually.

Article 18: Counterfeit Currency Reporting

Exchange houses must implement policies and procedures to detect counterfeit currency and report incidents to competent authorities under UAE law.

Article 19: General Security Requirements

Exchange houses must comply with all security requirements set in the Standards and by police, civil defence or other competent Emirate authorities where they conduct exchange business.

Article 20.1-20.2Article 20: Unclaimed Funds

Exchange houses must comply with the Central Bank's dormant accounts and unclaimed funds regulation, with board-approved policies to assess, document, disclose and monitor unclaimed funds.

Article 21: Consumer Protection

Exchange houses must comply with the Central Bank's Consumer Protection Regulation and Standards, and implement effective consumer protection policies and procedures.

Article 22: AML/CFT Compliance

Exchange houses must comply with amended AML/CFT laws and maintain comprehensive, effective internal AML/CFT policies, procedures and controls.

Article 23.1-23.6Article 23: Accounts and External Audit

Exchange houses must keep comprehensive, accurate books of accounts within the UAE, appoint an annual external auditor with Central Bank no-objection, and submit draft and final audited financial statements to the Central Bank.

Article 24.1Article 24: Operational Requirements

Exchange houses must adopt Board- or owner-approved policies and management-approved procedures covering governance, risk, audit, HR, anti-fraud, IT security and AML/CFT, reviewed regularly.

Article 24.2Article 24: Operational Requirements

An exchange house must not encumber any assets, including cash deposits under lien, without Central Bank approval, and must not act as guarantor or facilitator for anyone seeking credit facilities.

Article 24.3Article 24: Operational Requirements

Obtain a Central Bank LNO before distributing dividends, adhering to the Central Bank's recorded ownership ratio unless exempted.

Article 24.4Article 24: Operational Requirements

Exchange houses must fund operations and expansion mainly from own cash or paid-up capital, obtain Central Bank approval before borrowing, and never lend money or hold current accounts for parties.

Article 24.5Article 24: Operational Requirements

Exchange houses must obtain a Central Bank LNO before acquiring entities, merging, entering joint ventures, investing in or opening foreign subsidiaries or offices, or disposing of subsidiaries.

Article 24.6Article 24: Operational Requirements

Central Bank communications must be signed by the owner or an authorised signatory under power of attorney; only full-time employees, owners, partners or board members may be bank-account signatories.

Article 24.7-24.8Article 24: Operational Requirements

Exchange Houses must never rent out, relinquish or transfer control of their licence, or agree to be managed by another Person or third party.

Article 24.9-24.10Article 24: Operational Requirements

Exchange houses must issue official receipts, electronic or hard copy, for all customer transactions and notify customers of the status of remittance transactions.

Article 24.11Article 24: Operational Requirements

Exchange houses must deposit remittance customer funds into designated intermediate accounts at licensed banks daily or by next business day, use them only for remittance settlement, and have an external auditor perform agreed-upon procedures monthly.

Article 24.12Article 24: Operational Requirements

Exchange houses may change fees and exchange rates per market conditions, must notify the Central Bank within required timeframes, and may not agree to restrict their discretion over pricing.

Article 24.13Article 24: Operational Requirements

All UAE transactions must be settled in AED through appropriate Central Bank payment systems.

Article 24.14-24.16Article 24: Operational Requirements

Exchange houses must conduct exchange business only from Central Bank-approved premises, obtain an LNO before relocating, and get Central Bank approval before changing their legal or trade name.

Article 24.17Article 24: Operational Requirements

Currency Exchange and Remittance rates must be prominently displayed at all licensed locations and on digital platforms.

Article 24.18-24.19Article 24: Operational Requirements

Licences are cancelled if business does not start by the Central Bank deadline or closes over one month without approval; short premises closures need prior notice.

Article 24.20-24.21Article 24: Operational Requirements

Exchange houses must never offer gifts or entertainment to, or try to influence or threaten, Central Bank employees, and must comply with national employment and Emiratization targets.

Article 24.22Article 24: Operational Requirements

Exchange houses must operate strictly within licence scope, obtain separate letters of no objection for relevant parties and accounts, never assist customers in opening bank accounts, and exclude exclusivity, termination-penalty and blackout clauses from contracts.

Article 25: Annual Declaration

Exchange Houses must submit an Annual Declaration by 31 January each year, confirming compliance with regulatory Standards, jointly signed by the CEO and Board Chairman.

Article 26.1-26.4Article 26: Duty to Report to the Central Bank

Exchange houses must attend Central Bank meetings and training when required, maintain governance procedures with internal audit checks for timely returns, and set up Central Bank reporting portals before starting business.

Article 26.5-26.6Article 26: Duty to Report to the Central Bank

Exchange houses must access FIU suspicious-transaction reporting systems such as goAML before starting business, and meet Central Bank search and freeze notice deadlines.

Article 26.7-26.10Article 26: Duty to Report to the Central Bank

Licensed Persons must provide accurate data to the Central Bank and report significant legal issues or compliance violations without confidentiality breaches.

Article 27: Examination

The Central Bank may carry out announced or unannounced onsite and offsite examinations of a licensed exchange house at any time.

Article 28.1-28.2Article 28: Enforcement Powers

Violations of the Exchange Houses Regulation or Standards may lead to supervisory, administrative or financial sanctions, including removal of management powers, interim management, or barring individuals from the UAE financial sector.

Article 31.1 / Article 32.2Article 31: Cancellation of Previous Regulation

The Central Bank's Exchange Houses Regulation replaces the 2014 licensing and monitoring rules, and the Central Bank may grant case-by-case transitional compliance periods of up to 90 calendar days.

Items 1, 4-20 (Forms 1-17)Appendix 3: List of Compulsory Reports and Forms

Exchange houses must submit daily remittance data via the FID system and periodic financial, account, and exposure forms to the Banking Supervision Department by set monthly or quarterly deadlines, by email.

Items 21-23Appendix 3: List of Compulsory Reports and Forms

Exchange houses must file bi-annual compliance reports within four months of each half-year end, auditor reports by 31 March and AML/CFT findings by 30 April, in hard copy and email.

Paragraph 4.2Chapter 4: Continuing Obligations

Central Bank approval is needed for appointing the Manager in Charge, who must have a suitable Succession Plan in place.

Paragraph 4.9Chapter 4: Continuing Obligations

The Licensed Person must implement systems that send customer notifications about the status of remittance transactions, as set out in the Chapter 4 content requirements.

Paragraph 4.13 / Appendix 6Chapter 4: Continuing Obligations

The licensed exchange house's external auditor must perform monthly agreed-upon procedures on the Designated Remittance Intermediate Account, reporting findings to the Board and owner.

Paragraph 6.9Chapter 6: Management and Corporate Governance

Exchange houses must establish an Audit Committee and a Compliance Committee, each with minimum membership, meeting at least quarterly and retaining minutes.

Paragraph 10.3Chapter 10: Risk Management

Exchange houses must identify, evaluate, mitigate and monitor at minimum operational, market/currency rate, counterparty, compliance, reputational, security, and money laundering/terrorist financing risks.

Paragraph 16.3Chapter 16: AML/CFT Compliance

Exchange houses must maintain a board-approved AML/CFT policy based on risk assessment, reviewed annually, accessible at all premises, and applied to majority-owned branches and subsidiaries.

Paragraph 16.5Chapter 16: AML/CFT Compliance

Exchange houses must appoint an Alternate Compliance Officer to maintain AML/CFT continuity during the Compliance Officer's absence, subject to Central Bank licensing and the same resignation and replacement timelines.

Paragraph 16.6Chapter 16: AML/CFT Compliance

The Compliance Officer, Alternate Compliance Officer and other AML/CFT Compliance Department employees must each complete at least 48 hours of external AML/CFT continuing professional development training every 12 months.

Paragraph 16.11Chapter 16: AML/CFT Compliance

Legal persons and arrangements must undergo CDD and EDD at onboarding regardless of transaction value, with beneficial ownership verified, screening, and no shell bank or company relationships.

Paragraph 16.13Chapter 16: AML/CFT Compliance

Exchange houses must apply enhanced due diligence to all politically exposed persons regardless of transaction value, re-verify PEP status every 12 months, and obtain compliance officer or board approval before processing transactions.

Paragraph 16.21Chapter 16: AML/CFT Compliance

Exchange houses must collect or retain the original Customs Declaration Form for currency, precious metals or bearer instruments above AED 60,000, ensuring cumulative exchanges do not exceed its declared value; the form is not proof of source of funds.

Paragraph 16.23Chapter 16: AML/CFT Compliance

Provide comprehensive AML/CFT training to all employees within 30 days of joining, including annual refreshers for customer-facing staff.

Paragraph 16.24Chapter 16: AML/CFT Compliance

Exchange houses must implement automated, risk-based transaction-monitoring systems to detect unusual transactions, especially third-party transactions, and retain supporting records.

Paragraph 16.25Chapter 16: AML/CFT Compliance

Exchange houses must screen transaction parties against UN and UAE terrorist lists before execution, freeze matched funds within 24 hours, and report matches via goAML.

Paragraph 16.29Chapter 16: AML/CFT Compliance

Exchange houses must retain AML/CFT records, including transaction, KYC, CDD/EDD, monitoring and STR records, for at least five years from the relevant completion, termination, report or final investigation outcome date.

Paragraph 16.30Chapter 16: AML/CFT Compliance

Exchange houses must prepare a bi-annual AML/CFT compliance report for each half-year period, approved by the Board and submitted to Banking Supervision and FID within 4 months.

Paragraph 16.31Chapter 16: AML/CFT Compliance

Compliance Officer function must receive regular internal audit review, and an external auditor must perform an annual AML/CFT agreed-upon procedures engagement, filed with supervisors within four months of year-end.

Paragraph 16.32Chapter 16: AML/CFT Compliance

Exchange houses must upload remittance data to the Central Bank reporting system daily and enable immediate responses to Central Bank and FIU enquiries.

Paragraph 16.34Chapter 16: AML/CFT Compliance

AML/CFT Standards apply to Licensed Persons, their branches, subsidiaries, employees, directors and shareholders in the UAE, and to foreign branches where host AML/CFT requirements are less stringent.

Paragraph 18.2Chapter 18: Unclaimed Funds

Exchange houses must assess, document, monitor and disclose unclaimed funds monthly, keep them segregated, actively contact customers, and report the balance as a current liability on Form 1.

Paragraphs 1.1-1.2Chapter 1: Scope of the License and Exchange Business

Exchange business may only be conducted under a Central Bank licence, limited to foreign currency exchange, remittances, WPS salary processing and pre-approved special products, with full compliance required.

Paragraphs 2.1-2.4Chapter 2: Legal Forms, Capital and Bank Guarantee Requirements

The Standards set legal-form, capital-tier, and bank-guarantee requirements for exchange house licensees by License Category, plus WPS-turnover risk limits and 2017–2019 compliance deadlines.

Paragraphs 3.1-3.9Chapter 3: Licensing

Exchange house license applications, renewals, branch relocations and premises closures must follow prescribed Standards procedures, including a three-month cap on temporary closures.

Paragraphs 4.16, 4.21Chapter 4: Continuing Obligations

Exchange houses must follow specified Standards procedures and targets for license renewal applications and Emiratisation compliance under the continuing obligations chapter.

Paragraphs 5.1-5.xChapter 5: Central Bank Examinations

Establishes three types of Central Bank examinations for exchange houses, covering examination preparation, Transmittal Letter findings communication, response timelines, follow-up procedures and examination meetings.

Paragraphs 6.1-6.3Chapter 6: Management and Corporate Governance

Exchange houses must maintain a UAE head office, not in a free zone or access-restricted location, housing the manager in charge and functional heads, with records accessible for examination.

Paragraphs 6.4.4-6.4.8Chapter 6: Management and Corporate Governance

Exchange houses must ensure the Manager in Charge meets experience and qualification thresholds, is a UAE-resident full-time employee, and is replaced within 180 days after vacancy, with Central Bank notice within 5 working days.

Paragraphs 6.7-6.8Chapter 6: Management and Corporate Governance

Exchange house directors must meet experience, qualification and UAE-residency-majority thresholds, vacancies must be filled within 120 days, and boards must meet at least every six months.

Paragraphs 7.1.1-7.1.3Chapter 7: Accounts and Audit

Exchange houses must appoint an Accountant for bookkeeping and periodic financial reporting to the Central Bank, keep automated UAE-based books of accounts, and generate specified transaction volume and value reports.

Paragraphs 7.2.1-7.2.4Chapter 7: Accounts and Audit

Exchange houses must appoint a qualified Internal Auditor reporting to the Board, under an approved Internal Audit Charter and annual audit plan covering all activities including AML compliance.

Paragraphs 7.3.1-7.3.3Chapter 7: Accounts and Audit

Appoint an External Auditor annually with Central Bank approval, allowing a maximum of six consecutive years and mandatory audit-partner rotation.

Paragraphs 7.3.4-7.3.5Chapter 7: Accounts and Audit

Exchange houses must file audited financial statements and auditors' report by 31 March, consolidated statements within six months of year-end if subsidiaries exist, and obtain an external auditor's management letter.

Paragraphs 8.1-8.7Chapter 8: Human Resources

Exchange houses must adopt a Board- or owner-approved HR Policy covering recruitment, KYE checks, job descriptions, segregation of duties, staff rotation, succession planning and a Code of Conduct.

Paragraphs 9.1-9.9Chapter 9: Outsourcing of Functions

Licensed Exchange Houses cannot outsource AML compliance functions; they must ensure oversight, maintain policies, and keep customer data secure.

Paragraphs 10.1-10.2Chapter 10: Risk Management

The Board or owner is ultimately responsible for risk management, requiring a designated Risk Officer and an annually reviewed Risk Management Policy.

Paragraphs 11.2-11.3Chapter 11: Fraud Management

Exchange houses must implement an anti-fraud framework covering preventive, detective and response measures, appoint a Fraud Prevention Officer, and have the Internal Auditor conduct annual joint fraud risk assessments.

Paragraphs 11.4, 11.6Chapter 11: Fraud Management

Exchange houses must report all fraud incidents immediately to police and the FID, notify the Board, and keep a fraud incidents register reviewed annually.

Paragraphs 12.1-12.5Chapter 12: Counterfeit Currency Reporting

Exchange houses must implement counterfeit detection procedures, provide periodic training, report counterfeits (local immediately; foreign AED 36,000+ via CIR Form), and keep a register.

Paragraphs 13.1-13.6Chapter 13: General Security

Exchange houses must maintain general security: metal shutters, tested alarms, dual-control safes, CCTV with 90-day retention, comprehensive insurance, and Internal Audit-verified branch transfer limits.

Paragraphs 14.1-14.10Chapter 14: Information Security

Licensees must maintain a Board-approved information security policy, reviewed annually, covering access management, password rules, encrypted UAE-based data backup, cybersecurity controls, penetration testing, and immediate cyber incident reporting.

Paragraphs 15.1-15.3Chapter 15: Business Continuity Management

Exchange houses must implement a Business Continuity Plan covering crisis identification and stakeholder notification, testing it at least annually and updating it from results.

Paragraphs 16.1-16.2Chapter 16: AML/CFT Compliance

Requires exchange houses to implement an AML/CFT program based on enterprise-wide ML/FT risk assessment covering customer, counterparty, product, technology, jurisdictional and delivery channel risks, updated annually.

Paragraphs 16.4.1-16.4.11Chapter 16: AML/CFT Compliance

Exchange houses must appoint a qualified, UAE-resident full-time AML/CFT Compliance Officer after Central Bank fit-and-proper approval, notify vacancies within five working days, and propose a replacement within 90 days.

Paragraphs 16.7-16.10Chapter 16: AML/CFT Compliance

Exchange houses must apply tiered KYC for natural persons by transaction value: identification, customer due diligence, and enhanced due diligence from AED 55,000, with UIN issuance.

Paragraphs 16.14-16.15Chapter 16: AML/CFT Compliance

Enhanced due diligence is mandatory before any business relationship or transaction with a DNFBP or dealer in precious metals and stones, requiring compliance officer approval before onboarding.

Paragraphs 16.16-16.20Chapter 16: AML/CFT Compliance

Exchange houses must apply enhanced CDD to edge cases: capped Seaman's Pass and transfer amounts, prepaid card velocity controls, kiosk limits with OTP, and third-party transaction rules.

Paragraphs 16.17-16.19Chapter 16: AML/CFT Compliance

Ordering institutions must include and verify full originator and beneficiary data in wire transfers; intermediaries must preserve that data, and beneficiary institutions must apply risk-based execute, reject or suspend policies.

Paragraphs 16.26-16.27Chapter 16: AML/CFT Compliance

Employees must report suspected ML/FT to the Compliance Officer and file reports with the FIU, while avoiding customer tipping off.

Paragraphs 17.1-17.2Chapter 17: Customer Complaints Process

Exchange Houses must implement complaint-resolution procedures, publish a dedicated complaints phone number and email, and appoint a Head Office complaints officer to log, resolve and report complaints.

Paragraphs 17.3-17.5Chapter 17: Customer Complaints Process

Firms must acknowledge customer complaints within 2 business days, issue final responses within 10 business days, and report overdue complaints monthly to the Manager in Charge.

Paragraphs 18.1.1(a)-(e)Chapter 18: Unclaimed Funds

Exchange houses must treat funds as unclaimed when outward transfers go unpaid within 7 days, IMTS cash payouts are uncollected after 90 days, or inward remittances go unpaid within 30 days.

Sections A-CAppendix 4: Supervisory Powers and Non-Compliance Charges

Non-compliance with Exchange Houses Regulations may result in supervisory actions and fines ranging from AED 50,000 to AED 250,000 for specific breaches.

Paragraph 11.6.1-retRecord Retention — Fraud Incidents Register entries

Fraud Incidents Register entries are reviewed annually and retained for verification by Central Bank examiners, with no fixed disposal period specified.

Paragraph 12.5.1-retRecord Retention — Counterfeit Currency Register entries

Exchange houses must keep Counterfeit Currency Register entries for review and examiner verification, with annual review and no fixed disposal period, triggered by the counterfeit incident date.

Paragraph 13.4.2-retRecord Retention — CCTV recordings of licensed premises

Exchange houses must retain CCTV recordings of licensed premises for a minimum of ninety calendar days from recording date, or longer if police or competent Emirate authorities require.

Paragraph 16.25.4-retRecord Retention — Logs/records related to clearing of potential sanctions matches

Exchange houses must retain records relating to clearing potential sanctions matches for at least five years from the date the transaction was received.

Paragraph 16.29.1-16.29.3-retRecord Retention — Transaction receipts, KYC/CDD/EDD records, ongoing monitoring records, business

Exchange houses must retain transaction receipts, KYC, CDD, EDD and ongoing monitoring records, correspondence and ID copies for at least five years from transaction completion or relationship termination.

Paragraph 16.29.4-retRecord Retention — AML/CFT training registers, training plans and training materials

Exchange houses must retain AML/CFT training registers, training plans and training materials for at least five years from the date of the training.

Paragraph 16.29.5-retRecord Retention — Supporting documents for transaction monitoring and investigations of unusual tr

Exchange houses must retain supporting documents for transaction monitoring and unusual transaction investigations for at least five years from the date of the investigation.

Paragraph 16.29.6-retRecord Retention — Documents related to STRs, SARs or other reports (including internal disclosures

Exchange houses must retain documents relating to suspicious transaction reports, including internal disclosures and analysis, for at least five years from the date the report was made, extended if litigation or investigation applies.