Second Consultation on Enhancement of AML Regulatory Regime for Financial Sectors

Circulars

10 Dec 2009

Second Consultation on Enhancement of AML Regulatory Regime for Financial Sectors

Our Ref:
B10/1C
B1/15C

10 December 2009

The Chief Executive
All authorized institutions

Dear Sir/Madam,

Second Consultation on Enhancement of AML Regulatory Regime for Financial Sectors

We would like to inform you that on 7 December 2009 the Financial Services and the Treasury Bureau (FSTB) launched a public consultation on detailed legislative proposal on customer due diligence and record keeping requirements for financial institutions, as well as the regulation of remittance agents and money changers. The two-month consultation will last until 6 February 2010. The detailed legislative proposal and the conclusion of the first consultation can be found on the FSTB's website (http://www.fstb.gov.hk/fsb/aml/eng/consultation/consultation.htm).

Similar to the first consultation, the FSTB will hold two consultation sessions for authorized institutions (AIs) at the HKMA's office on 7 and 8 January 2010 to brief the banking sector on the detailed proposals and listen to AIs' views and comments. Both sessions will be conducted in English. Compliance officers and managing staff with responsibility for AML/CFT controls are encouraged to attend.

Due to the limited number of seats available, each AI is requested to nominate not more than two representatives to attend one of the sessions. Please discuss with the HKMA if more seats are required. Please complete the attached registration form indicting which session the representatives wish to attend and return the completed forms to the HKMA by email at aml@hkma.finnet.hk on or before 24 December 2009. Seats will be allocated on a first come first served basis and late submission will not be entertained. In the event of one session becoming oversubscribed, applicants may be offered seats at the alternate session.

Unless otherwise advised, you may assume your representatives are admitted to the preferred session if the registration forms are returned to the HKMA before the deadline.

If you have any questions regarding the event, please contact Ms Sabrina Wong at 2878 1161.

Yours faithfully,

Howard Lee
Head (Banking Policy Division)

Encl. Registration Form (Word file, 34KB)

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