Outsourced AML Officers

Canopy’s AML team are all senior management level professionals with at least 15 years of experience in investment funds, capital markets and banking sectors and bring a wealth of private sector and regulatory experience to clients.

When conducting relevant financial business, AML Officers (i.e., the AMLCO, MLRO, and DMLRO) are mandatory appointments under the Cayman Islands’ AML Regime.  The Regime places emphasis on appointing appropriate individuals at the senior management level to fulfill these roles.  It is therefore critical to ensure that AML Officers appointed to entities conducting relevant financial business (which includes hedge and private funds, capital market and other financial structures, securities investment business, insurance, and reinsurance companies) are sufficiently experienced and knowledgeable enough, as expected by the regulator, to perform the roles. When appointed, Canopy will provide named individuals to serve as AML Officers, all of whom will have appropriate seniority, experience, training, and expertise to fulfill the roles and responsibilities as required. 

In performing the AML Officer roles, the individuals appointed must not only understand the business and transactions conducted by our clients but have the skill and experience to manage issues of concern and liaise with directors, managers, and relevant authorities as may be required. Our team has extensive experience in hedge and private equity fund structures, CLOS and capital market transactions, as well as securities investment business and banking transactions.  With over 50 years of combined experience, our team members bring a well-balanced approach and perspective to AML Compliance and oversight of service providers, best practices, and identifying gaps or risk areas. In addition to AML matters, the team also has experience navigating other pertinent risk areas such as sanctions,  terrorist and proliferation, and financing prevention. A key component of Canopy’s approach will be regular communication with the boards of directors or equivalent, the investment managers, and the party responsible for implementing the AML programme (where delegated to a third party).

As a specialist AML firm, Canopy will also adhere to industry best practices of independence from other service providers to the Fund in fulfillment of its duties and obligations.