Circular to Licensed Corporations and Associated Entities - Anti-Money Laundering / Counter-Terrorist Financing
(1) United Nations Sanctions (Sudan) Regulation 2013
(2) Updated AML/CFT Self-Assessment Checklist

26 Mar 2018



Circular to Licensed Corporations and Associated Entities 

Anti-Money Laundering / Counter-Terrorist Financing 

(1)   United Nations Sanctions (Sudan) Regulation 2013 

(2)   Updated AML/CFT Self-Assessment Checklist 

(1)  United Nations Sanctions (Sudan) Regulation 2013 

Further to our circular issued on 27 October 2017, an updated list specifying “relevant persons” under section 31 of the United Nations Sanctions (Sudan) Regulation 2013 (Cap. 537BF) was published in the Gazette on 23 March 2018 (G.N. 2087 of 2018).

The aforesaid list can be found on the Government’s website (https://www.gld.gov.hk/egazette/pdf/20182212/egn201822122087.pdf).

Licensed corporations (“LCs”) and associated entities (“AEs”) are reminded to refer to Chapter 6 of the Guideline on Anti-Money Laundering and Counter-Terrorist Financing (“AML Guideline”) which contains guidance on the appropriate measures that LCs and AEs should take to ensure compliance with the regulations made under the United Nations Sanctions Ordinance
(Cap.537) Note 1.  The Securities and Futures Commission (“SFC”) expects all new designations to be screened by LCs and AEs against their client lists as soon as practicable whenever there are updates.  LCs and AEs are also reminded to report any transactions or relationships they have or have had with any designated person or entity to the Joint Financial Intelligence Unit. 

(2)  Updated AML/CFT Self-Assessment Checklist

The SFC today posted an updated AML/CFT Self-Assessment Checklist, which reflects the recent revisions to the Guideline on Anti-Money Laundering and Counter-Terrorist Financing Note 2. A copy of the updated checklist can be downloaded from the SFC’s website at (http://www.sfc.hk/web/EN/files/IS/AML/SELF_ASSESSMENT_CHECKLIST_ENG_2018.xlsx).

The AML/CFT Self-Assessment Checklist has been prepared to provide a structured framework for licensed corporations (“LCs”) and associated entities (“AEs”) to assess compliance with the key AML/CFT requirements. LCs and AEs are advised to use the self-assessment checklist as part of their regular review to monitor their AML/CFT compliance.

The senior management of LCs and AEs should ensure that any compliance deficiencies identified during the regular reviews are rectified in a timely manner. In the course of our regular inspections, we may require LCs and AEs to provide documentary evidence of the performance of such review and its results.

Should you have any queries regarding the contents of this circular, please contact Ms Kiki Wong on 2231 1569.

Intermediaries Supervision Department
Intermediaries Division
Securities and Futures Commission

End

SFO/IS/019/2018

Note 1 Under paragraph 6 of the Prevention of Money Laundering and Terrorist Financing Guideline issued by the Securities and Futures Commission for Associated Entities, AEs that are not authorized financial institutions are expected to have regard to the provisions of the AML Guideline as if they were themselves LCs.
Note 2
Please refer to our circular issued on 23 February 2018 re the amendments to Anti-Money Laundering and Counter-Terrorist Financing guidelines (http://www.sfc.hk/edistributionWeb/gateway/EN/circular/aml/aml-regulations/doc?refNo=18EC13).


Click here to download the document


Page last updated : 26 Mar 2018