FATF Guidance in relation to the Risk Based Approach for Trust and Company Service providers – helping TCSPs design effective measures to manage money laundering/terrorist financing risks

09 July, 2019
The Financial Action Task Force (FATF) published updated guidance in relation to the Risk Based Approach (RBA) for Trust and Company Service Providers (TCSPs) on 26 June 2019 (the Guidance).  A copy of the Guidance can be found here. The Guidance has been developed to assist TCSPs professionals, practitioners with TCSPs as customers, and countries … Read more

Hong Kong: New licensing regime for trust and company service providers to come into force on 1 March 2018

30 January, 2018
The Companies Registry announced on 25 January 2018 that a new licensing regime for trust and company service providers (“TCSPs”) will come into force on 1 March 2018 under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615) (“AMLO”). A new regime requiring companies to keep and maintain Significant Controllers Registers will also come into … Read more