Race Discrimination Ordinance and Amendments to Supplement to Guideline on Prevention of Money Laundering

Our ref :

B10/1C
B1/15C

17 July 2009

The Chief Executive
All authorized institutions

Dear Sir/Madam,

Race Discrimination Ordinance and Amendments to Supplement to Guideline on Prevention of Money Laundering

I am writing to inform you that the Race Discrimination Ordinance (RDO), Cap. 602, came into operation on 10 July 2009. The RDO seeks to promote racial equality and harmony in Hong Kong. Under the RDO, it is unlawful to discriminate, harass or vilify people on the ground of their race.

AIs should familiarize themselves with the provisions of the RDO and review their existing policies and procedures to ensure compliance with its terms. AIs may find the frequently asked questions about the RDO published by the Equal Opportunities Commission on its website (http://www.eoc.org.hk) to be useful in this regard. Suitable training and guidance should be provided to AIs' staff to raise their awareness and understanding of the new legislation.

The HKMA has reviewed its guidelines on anti-money laundering and counter terrorist financing in light of the commencement of the RDO. To avoid any potential misunderstanding, amendments will be made to paragraphs 2.3(a) and 10.6(a) of the Supplement to the Guideline on Prevention of Money Laundering (Supplement) and its Interpretative Notes (INs). Please refer to Annex 1 for details of the amendments.

The amendments will take effect on the day the revised Supplement and INs are published in the Gazette, which is scheduled for 24 July 2009. An advanced copy of the revised Supplement and INs is attached at Annex 2 for your reference.

If you have any questions about the contents of this letter, please feel free to contact Ms Sophia Lam on 2878-8281.

Yours faithfully,

Karen Kemp
Executive Director (Banking Policy)

c.c.

The Chairman, The Hong Kong Association of Banks
The Chairman, The DTC Association
FSTB (Attn: Angelina Kwan)

Encl.

Annex 1 (PDF file, 15KB)
Annex 2 (PDF file, 193KB)