Early this year, Financial Action Task Force (FATF) updated their recommendation for International Standards on Combating Money Laundering and the Financing of Terrorism & Proliferation. Hong Kong SAR, a member of FATF, is obliged to comply with the new standards.
As a result, The Financial Services and the Treasury Bureau published the Consultations Conclusion on Legislative Proposals to Enhance Anti-Money Laundering and Counter-Terrorist Financing Regulation in Hong Kong in April. It extended the statutory customer due diligence (CDD) and record-keeping requirements currently imposed to financial institutions to DNFBPs which impacts lawyers, accountants and company secretaries.
During the session, Michael Lintern-Smith from The Law Society will share “Latest Regulation Update and Extension of Customer Due Diligence Requirements to Non-Financial Businesses in Hong Kong”. Then join by industry experts from EY, The Hong Kong Institute of Chartered Secretaries, Thomson Reuters and Tricor Group to discuss impacts to DNFBPs and industry best practices to comply with the standards.
First 15 minutes is for networking
Sandwiches and beverages included