Financial News
Written by: Zhang Weilun
2020-09-18 20:52
Last update date: 2020-09-18 20:52
The China Securities Regulatory Commission today (18) initiated a three-month consultation on the proposed revisions to the anti-money laundering and fund-raising guidelines for terrorists, and submitted comments via websites or emails on or before December 18 this year.
The proposed amendments will help the securities industry adopt a risk-based approach to implement anti-money laundering and terrorist fund-raising measures, and follow up on what is identified in the latest "Hong Kong Mutual Evaluation Report" published by the Financial Action Task Force Some areas that need improvement.
The amendments also include prescribed foreign measures to help reduce the risks involved in business arrangements such as cross-border agency relationships.
The administrative ruling of the China Securities Regulatory Commission Oudari stated that the proposed amendments closely follow the latest international standards and provide practical guidance so that institutions can implement important measures in a more risk-sensitive manner, which will help the securities industry respond to the risks it faces. Specific nature, more effective to combat money laundering and terrorist financing activities.
Securities Regulatory Commission
