April 20, 2018: HK SFC AML/CTF Circular

Circular to Licensed Corporations and Associated Entities 

Anti-Money Laundering / Counter-Terrorist Financing 

United Nations Sanctions (Somalia) (Amendment) Regulation 2018 

The United Nations Sanctions (Somalia) (Amendment) Regulation 2018 (“Amendment Regulation”) made under the United Nations Sanctions Ordinance (“the UNSO”) (Cap. 537) was published in the Gazette (L.N. 66 of 2018) on 20 April 2018 with immediate effect.

The Amendment Regulation amends the United Nations Sanctions (Somalia) Regulation (Cap. 537AN) to incorporate provisions implementing decisions of the United Nations Security Council under Resolution 2385. It mainly implements the exceptions to the arms embargo measures, the prohibition against the provision of advice, assistance and training, as well as financial sanctions in respect of Somalia Note 1.

The aforesaid regulation can be found on the Government’s website (https://www.gld.gov.hk/egazette/pdf/20182216/es22018221666.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 UNSO Note 2.

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



Note 1 Please see our circular issued on 16 March 2018 for the list specifying “relevant persons and entities”, which was published in the Gazette on the same date, under section 30 of the United Nations Sanctions (Somalia) Regulation.
Note 2
 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.


HK SFC Notice

HK SFC Circular

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