May 24, 2018: HK SFC AML/CTF Crcular

Circular to Licensed Corporations and Associated Entities 

Anti-Money Laundering / Counter-Terrorist Financing 

United Nations Sanctions (Democratic People’s Republic of Korea) Regulation 

Further to our circular issued on 23 February 2018, an updated list specifying “relevant persons and entities” under section 31 of the United Nations Sanctions (Democratic People’s Republic of Korea) Regulation (Cap. 537AE) was published in the Gazette on 24 May 2018 (G.N. (E.) 26 of 2018) Note 1.

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 United Nations Sanctions Ordinance (Cap.537) Note 2.  The Securities and Futures Commission (“SFC”) expects all new designations to be screened by LCs and AEs against their client lists as soon as practicable whenever there are updates.  LCs and AEs are also 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 on 2231 1569.

Intermediaries Supervision Department
Intermediaries Division
Securities and Futures Commission



Note 1 The gazette notice can be found on the Government’s website(
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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