Clifford Chance

SFC consultation paper on proposed anti-money laundering and counter-terrorist financing guidelines

7 November 2011

On 1 April 2012, the new Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance, Cap. 615 ("AMLO") will come into effect, which introduces a new legislative framework on the obligations of financial institutions to take appropriate measures to combat money laundering and terrorist financing activities. The AMLO will be supplemented by guidelines issued by the four relevant regulatory authorities, namely the Securities and Futures Commission, the Hong Kong Monetary Authority, the Insurance Authority and the Customs and Excise Department.

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