https://www.thestandard.com.hk/breaking-news/section/2/155787/Market-views-sought-on-money-laundering-guidelines

The Securities and Futures Commission has launched a three-month consultation on proposals to amend its anti-money laundering and counter-financing of terrorism (AML/CFT) guidelines.

The proposed amendments would facilitate the adoption of a risk-based approach to AML/CFT measures by the securities industry.

Market participants and other interested parties can submit their comments to the SFC on or before December 18.

The proposed amendments include incorporating part of the contents of The FATF’s Guidance for a Risk-based Approach for the Securities Sector into the AML/CFT Guideline, as well as adding an expanded list of illustrative examples of relevant and useful risk indicators in the proposed revised guideline, according to the consultation paper.

"The proposed amendments align with the latest international standards and provide useful guidance for firms to apply these important measures in a more risk-sensitive manner," said Ashley Alder, the SFC’s Chief Executive. "This will help the securities industry combat money laundering and terrorist financing more effectively, having regard to the specific nature of the risks they face."