November 23, 2018: HK SFC AML/CTF Circular – South Sudan and Libya sanctions


Circular to Licensed Corporations and Associated Entities

Anti-Money Laundering / Counter-Terrorist Financing 

(1)  United Nations Sanctions (South Sudan) Regulation 2018 

(2)  United Nations Sanctions (Libya) Regulation 2011

(1)  United Nations Sanctions (South Sudan) Regulation 2018 

Further to our circular issued on 9 November 2018, an updated list specifying “individuals and entities” under section 32 of the United Nations Sanctions (South Sudan) Regulation 2018 (Cap. 537CC) was published on the website of the Commerce and Economic Development Bureau on 22 November 2018. A relevant press release issued by the United Nations Security Council, reflecting the updates since the previous list was published on the website of the Commerce and Economic Development Bureau, is attached in Attachment 1.

The aforesaid list obtained from the website of the Commerce and Economic Development Bureau is attached in Attachment 2.

(2)  United Nations Sanctions (Libya) Regulation 2011 

Further to our circular issued on 21 September 2018, an updated list specifying “relevant persons and relevant entities” under section 38 of the United Nations Sanctions (Libya) Regulation 2011 (Cap 537AW) was published in the Gazette on 23 November 2018 (G.N. 8704 of 2018). A relevant press release issued by the United Nations Security Council, reflecting the updates since the previous list was published in the Gazette (G.N. 7033 of 2018), is attached in Attachment 3.

The aforesaid list can be found on the Government’s website(https://www.gld.gov.hk/egazette/pdf/20182247/egn201822478704.pdf). 

LCs and AEs are reminded to refer to Chapter 6 of the Guideline on Anti-Money Laundering and Counter-Financing of Terrorism (For Licensed Corporations) (“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 1.  The Securities and Futures Commission 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

Enclosure

End

SFO/IS/068/2018

Note 1 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.

Links:

HK SFC Notice

HK SFC Circular

UN Press Releases – South Sudan (Attachment 1)Libya (Attachment 3)

Updated South Sudan Sanctions List (Attachment 2)

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s