The QFMA’s approval for individuals can be by approving the appointment by a company for performing a function or by granting a license to perform such regulated function. The regulated functions are divided into three categories as defined in Article (7) of Financial Services Rulebook:
Functions performed by persons who have a significant influence on the company’s operations, including: - Members of the Board of Directors; Chief Executive Officer or, a General Manager, or a Managing Director of the company (a member of a board of directors to whom management of a Company has been delegated); a person acting for any of the persons mentioned in (2) above; and Financial Manager.
Technical functions of Company Representatives and securities professionals, including: Financial Advisor, Account Manager, Broker Representative, Back Office Operations Manager, Financial Analyst, Investment Manager, Representative of a Custodian, Trading Manager and Deputy Trading Manager.
Functions related to monitoring compliance, including: Compliance Officer, Money Laundering Reporting Officer (MLRO), Deputy MLRO, Risk Management Officer, and Internal Auditor.