Circular to Licensed Corporations and Associated Entities - Anti-Money Laundering / Counter-Financing of Terrorism
Frequently Asked Questions

22 Feb 2019



Circular to Licensed Corporations and Associated Entities

Anti-Money Laundering / Counter-Financing of Terrorism

Frequently Asked Questions

The Securities and Futures Commission (“SFC”) today published a new set of Frequently Asked Questions (“FAQs”) in relation to anti-money laundering and counter-financing of terrorism (“AML/CFT”). The FAQs superseded the FAQs published in March 2012. A copy of the FAQs is attached in the Appendix to this circular1.

The FAQs, which should be read in conjunction with the latest AML/CFT guidelines2, address often asked questions by the industry about the implementation of some guideline provisions. They provide elaboration or illustration to provisions in the AML/CFT guidelines in order to promote greater understanding. The SFC will keep the FAQs for the AML/CFT guidelines under review and update them where necessary.

Licensed corporations (“LCs”) and associated entities (“AEs”)3 should have regard to the FAQs in meeting applicable AML/CFT statutory and regulatory requirements.

Should you have any queries regarding the contents of this circular, please contact Ms Remy Cheung at 2231 1186.

Intermediaries Supervision Department
Intermediaries Division
Securities and Futures Commission

Enclosure

End

SFO/IS/005/2019


1 The FAQs is also available on the SFC’s website at http://www.sfc.hk, under the section “Regulatory functions – Intermediaries – Supervision – FAQs”.
2
This refers to the revised Guideline on Anti-Money Laundering and Counter-Financing of Terrorism (For Licensed Corporations) (“AML/CFT Guideline”) and the Prevention of Money Laundering and Terrorist Financing Guideline issued by the Securities and Futures Commission for Associated Entities (“Guideline for AEs”), which have come into effect on 1 November 2018.
3 Under paragraph 6 of the Guideline for AEs, AEs that are not authorized financial institutions are expected to have regard to the provisions of the AML/CFT Guideline as if they were themselves LCs.


Click here to download the document

Supplementary document:
Appendix


Page last updated : 22 Feb 2019