September 9, 2016: Hong Kong SFC AML/CTF Circular

On September 9th, the Hong Kong Securities and Futures Commission (SFC) issued an anti-money laundering and counter-terrorist financing circular to alert firms to the updates to sanctions imposed on the Central African Republic by the United Nations:

United Nations Sanctions (Central African Republic) Regulation 2016 

Further to our circular issued on 3 June 2016, an updated list specifying “relevant persons and entities” under section 32 of the United Nations Sanctions (Central African Republic) Regulation 2016 (Cap. 537BS) was published in the Gazette on 9 September 2016 (G.N. 5059 of 2016).

The aforesaid list can be found on the Government’s website (http://www.gld.gov.hk/egazette/pdf/20162036/egn201620365059.pdf).

Licensed corporations (“LCs”) and associated entities (“AEs”) should check the names in the above list against their records, and report any transactions or relationships they have or have had with the named persons or entities to the Joint Financial Intelligence Unit.

Furthermore, LCs and 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 Note 1.

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

 

Links:

HK SFC Notice

HK SFC Circular