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Hong Kong SFC enforcement action: Southwest Securities fined 5 million HK$ for AML failings

SFC reprimands and fines Southwest Securities (HK) Brokerage Limited $5 million for breaches of anti-money laundering regulatory requirements 18 May 2020 The Securities and Futures Commission (SFC) has reprimanded and fined Southwest Securities (HK) Brokerage Limited (SSBL) $5 million for failures in complying with anti-money laundering and counter-terrorist financing (AML/CFT) […]

Two quick Hong Kong musings…

1) 6 fraud notices from the Hong Kong Monetary Authority (HKMA) in the last 2 days 2) I used to get sanctions updates from the Hong Kong Securities and Futures Commission (HKSFC), with links to the government Gazette. I can’t remember the last time they issued one – but clearly […]

HK SFC AML/CFT Circular: AML/CFT Self-Assessment Checklist

Circular to Licensed Corporations and Associated Entities Anti-Money Laundering / Counter-Financing of Terrorism Updated AML/CFT Self-Assessment Checklist The Securities and Futures Commission (“SFC”) today posted an updated AML/CFT Self-Assessment Checklist which has incorporated revisions to reflect the latest Guideline on Anti-Money Laundering and Counter-Financing of Terrorism (For Licensed Corporations)Note 1. […]

April 23, 2019: HK SFC AML/CFT Circular – counter terrorism measures

Circular to Licensed Corporations and Associated Entities Anti-Money Laundering / Counter-Financing of Terrorism (1)  United Nations (Anti-Terrorism Measures) Ordinance (2)  United Nations Sanctions (ISIL and Al-Qaida) Regulation (1)  United Nations (Anti-Terrorism Measures) Ordinance  Further to our circular issued on 18 April 2019, an updated list specifying terrorists and terrorist associates designated by the […]

April 18, 2019: HK SFC AML/CFT Circular

Circular to Licensed Corporations and Associated Entities Anti-Money Laundering / Counter-Financing of Terrorism (1)  United Nations (Anti-Terrorism Measures) Ordinance (2)  United Nations Sanctions (ISIL and Al-Qaida) Regulation (1)  United Nations (Anti-Terrorism Measures) Ordinance  Further to our circular issued on 16 April 2019, an updated list specifying terrorists and terrorist associates designated by the […]

April 16, 2019: HK SFC AML/CFT Circular

Circular to Licensed Corporations and Associated Entities – Anti-Money Laundering / Counter-Financing of Terrorism  (1) United Nations (Anti-Terrorism Measures) Ordinance (2) United Nations Sanctions (ISIL and Al-Qaida) Regulation 16 Apr 2019 Circular to Licensed Corporations and Associated Entities Anti-Money Laundering / Counter-Financing of Terrorism (1)  United Nations (Anti-Terrorism Measures) Ordinance (2)  United […]

April 1, 2019: HK SFC AML/CFT Circular

Circular to Licensed Corporations and Associated Entities Anti-Money Laundering / Counter-Financing of Terrorism (1)  United Nations (Anti-Terrorism Measures) Ordinance (2)  United Nations Sanctions (ISIL and Al-Qaida) Regulation (1)  United Nations (Anti-Terrorism Measures) Ordinance  Further to our circular issued on 25 March 2019, an updated list specifying terrorists and terrorist associates designated by the […]

March 29, 2019: HK SFC AML/CFT Circular

Circular to Licensed Corporations and Associated Entities  Anti-Money Laundering / Counter-Financing of Terrorism (1) United Nations Sanctions (Libya) Regulation 2019 and United Nations Sanctions (Libya) Regulation 2011 (Repeal) Regulation  (2) United Nations Sanctions (Somalia) Regulation 2019 and United Nations Sanctions (Somalia) Regulation (Repeal) Regulation  (3) United Nations Sanctions (Eritrea) Regulation […]