Hot on the heels of the of the HKMA’s actions against Shanghai’s Commercial Bank in mid-August as well as Hong Kong’s ML/TF Risk Assessment in April The Securities and Futures Commission (“SFC”) issued a robust circular on 31 August 2018 about the adequacy of LICENSED CORPORATIONS’ (“LCS”) Anti-Money Laundering, and Counter Financing of Terrorism (“AML/CFT”) […]

The Hong Kong Monetary Authority (HKMA) has updated its frequently asked questions (FAQs) on customer due diligence (CDD), which supersede the FAQs published on 29 September 2016. The FAQs address issues concerning the interpretation of CDD-related legal and regulatory requirements in the context of problems faced by authorised institutions in establishing and maintaining business relationships […]