HK SFC EXPANDS PEP CONTROLS TO INTERNATIONAL ORGANISATION STAFF
October 1st, 2018
The Hong Kong Securities and Futures Commission (SFC) has released proposals to expand the China special administrative region’s politically exposed person (PEP) controls to cover senior officials within international organisations.
The SFC has said that these expanded AML/CFT controls would also apply to customers of a licensed corporation in HK entrusted with a prominent public function by a foreign government and an international organisation simultaneously. In such a case, these PEPs should be subject to existing controls that apply to foreign PEPs, under ...
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