December 29, 2017: HK SFC AML/CTF Circular

On December 29th, the Hong Kong Securities and Futures Commission (HK SFC) announced the publication of an updated North Korean Sanctions list in the government Gazette, and provided the following guidance:

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

Links:

HK SFC Notice

HK SFC Circular

DPRK sanctions list

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