Circular to Licensed Corporations and Associated Entities - Anti-Money Laundering / Counter-Financing of Terrorism
(1) United Nations Sanctions (Democratic Republic of the Congo) Regulation 2019
(2) United Nations Sanctions (South Sudan) Regulation 2019

25 Oct 2019



Circular to Licensed Corporations and Associated Entities

Anti-Money Laundering / Counter-Financing of Terrorism

(1)  United Nations Sanctions (Democratic Republic of the Congo) Regulation 2019

(2)  United Nations Sanctions (South Sudan) Regulation 2019

(1)  United Nations Sanctions (Democratic Republic of the Congo) Regulation 2019  

The United Nations Sanctions (Democratic Republic of the Congo) Regulation 2019 ("the DRC Regulation 2019") made under the United Nations Sanctions Ordinance (Cap. 537) ("UNSO"), was published in the Gazette (L.N. 157 of 2019) on 25 October 2019 with immediate effect.

The DRC Regulation 2019 implements sanctions against the Democratic Republic of the Congo as renewed by the United Nations Security Council under Resolution 2478.

We would like to draw licensed corporations’ ("LCs") and associated entities’ ("AEs") attention to section 6 of the DRC Regulation 2019 which provides for prohibition against (a) making available economic assets to individuals and entities named in the list published under section 29(1) of the DRC Regulation 2019; or (b) dealing with economic assets of such persons or entities, except with a licence.

The DRC Regulation 2019 can be found on the Government’s website (https://www.gld.gov.hk/egazette/pdf/20192343/es220192343157.pdf).

A list of "individuals and entities" was published under section 29(1) of the DRC Regulation 2019 on the website of the Commerce and Economic Development Bureau on 25 October 2019.  This list is identical to the list of "individuals and entities" published under section 28 of the United Nations Sanctions (Democratic Republic of the Congo) Regulation 2018 on the website of the Commerce and Economic Development Bureau on 21 December 2018 Note 1.

The aforesaid list obtained from the website of the Commerce and Economic Development Bureau is attached in Attachment 1.

(2)  United Nations Sanctions (South Sudan) Regulation 2019

The United Nations Sanctions (South Sudan) Regulation 2019 ("the South Sudan Regulation 2019") made under the UNSO, was published in the Gazette (L.N. 158 of 2019) on 25 October 2019 with immediate effect.

The South Sudan Regulation 2019 implements sanctions against South Sudan as renewed by the United Nations Security Council under Resolution 2471.

We would like to draw LCs’ and AEs’ attention to section 6 of the South Sudan Regulation 2019 which provides for prohibition against (a) making available economic assets to individuals and entities named in the list published under section 33(1) of the South Sudan Regulation 2019, or any individuals or entities acting on their behalf or at their direction, or entities owned or controlled by them; or (b) dealing with economic assets of such persons or entities, except with a licence.

The South Sudan Regulation 2019 can be found on the Government’s website (https://www.gld.gov.hk/egazette/pdf/20192343/es220192343158.pdf).

A list of "individuals and entities" was published under section 33(1) of the South Sudan Regulation 2019 on the website of the Commerce and Economic Development Bureau on 25 October 2019.  This list is identical to the list of "individuals and entities" published under section 32 of the United Nations Sanctions (South Sudan) Regulation 2018 on the website of the Commerce and Economic Development Bureau on 26 June 2019 Note 2.

The aforesaid list obtained from the website of the Commerce and Economic Development Bureau is attached in Attachment 2.

LCs and AEs are reminded to refer to Chapter 6 of the Guideline on Anti-Money Laundering and Counter-Financing of Terrorism (For Licensed Corporations) ("AML Guideline") which contains guidance on the appropriate measures that LCs and AEs should take to ensure compliance with the regulations made under the UNSO Note 3. LCs and AEs are reminded to report any transactions or relationships they have or have had with any designated person or entity to the Joint Financial Intelligence Unit.

Should you have any queries regarding the contents of this circular, please contact Ms Kiki Wong at 2231 1569 who will assist to refer your queries to the relevant officer.

Intermediaries Supervision Department
Intermediaries Division
Securities and Futures Commission

Enclosure

End

SFO/IS/053/2019

Note 1 Please refer to our circular issued on 21 December 2018 (https://www.sfc.hk/edistributionWeb/gateway/EN/circular/aml/doc?refNo=18EC95).
Note 2
Please refer to our circular issued on 26 June 2019 (https://www.sfc.hk/edistributionWeb/gateway/EN/circular/aml/doc?refNo=19EC44).
Note 3
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.


Click here to download the document

Supplementary document:
Attachment 1
Attachment 2


Page last updated : 25 Oct 2019