SFC 2020 Consultation Paper on Proposed Amendments to the AML/CFT Guideline


On 18 September 2020, the SFC published a Consultation Paper on proposals to amend the Guideline on Anti-Money Laundering and Counter-Financing of Terrorism (for Licensed Corporations) ("AML/CFT Guideline") and its Prevention of Money Laundering and Terrorist Financing Guideline issued by the SFC for Associated Entities with a consultation deadline in December 2020. 

The objectives of the proposed amendments are to:

  • Align the AML/CTF Guideline for SFC-Licensed Corporations with the Financial Action Task Force’s ("FATF") latest standards on AML/CFT amplified by the Guidance for a Risk-Based Approach for the Securities Sector published by the FATF in October 2018 ("Risk-Based Approach Guidance");

  • Address some areas for improvement identified in the latest Mutual Evaluation Report of Hong Kong published by FATF on 4 September 2019;

  • Facilitate the securities industry’s implementation of AML/CFT measures using a risk-based approach; and

  • Incorporate relevant guidance currently set out in the SFC’s circulars to SFC Licensed Corporations and associated entities on AML/CFT standards in areas including institutional risk assessments and third-party deposits and payments and other guidance into the revised guidelines.

In this online training course, it covers the following areas for you all to understand the impacts and changes under this Proposal in the above SFC AML Consultation Paper: 

1. Introduction to this SFC AML Consultation paper issued in September 2020

2. Proposed Governance and Processes for Institutional Risk Assessments 

3. Proposed Risk Indicators for Institutional and Customer Risk Assessments

4. Proposed Due Diligence for Cross-Border Correspondent Relationships

5. Proposed requirements and amendments about Third-Party Deposits and Payments

6. Proposed requirements for Persons Purporting to Act on behalf of the Customer

7. Proposed requirements on establishing Source of Funds and Source of Wealth

8. Other amendments 

To complete the training, you are required to answer 10 questions in the Assessment Test at the end of the training and have 6 questions answered correctly.  Prior to taking the Assessment Test, you must watch the entire training video. Failure to do so may lead to cancellation of your Certificate of Completion.

**Please note that you are required to create an account with Thinkific, our Learning Management platform. Your Certificate of Completion will be issued using the name used to create the account. Therefore, please ensure that your official name is used when creating the account on Thinkific.**

For any queries, please email us at info@complianceplus.hk. Thank you.


Course Curriculum

  • 1
    SFC 2020 Consultation Paper on Proposed Amendments to the AML/CFT Guideline
    • Step 1: Watch the Training Video
    • Step 2: Take Online Assessment (Passing Grade: 60%)(Answered 6 questions correctly out of 10 questions)
    • Step 3: Download your certificate