What is the frequency of audit for an AP (Authorised Person)?

What is the frequency of audit for an AP (Authorised Person)?

The standard audit frequency for all APs is once every 2 years. However, an annual audit becomes mandatory if the AP meets any of the following criteria:

1. Falls within the top 50% of registered APs or branches based on turnover from the previous year.
2 . Has one or more unauthorized trading complaints filed against them.
3. Is flagged through market intelligence or social media scanning for suspicious activities such as unauthorized dealings, assured returns, or mis-selling. In such cases, an immediate inspection must be carried out regardless of the last audit date.
4. Shows a sudden increase in turnover, client count, or commission payouts.

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