Hong Kong passes amendments to AML and CTF Bill

EBA compliance management guidelines came into force on 1st December
2022 FCA Fines

Hong Kong’s Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Bill 2022 has been passed.

The Bill will introduce the following in phases in Q2/2023 to allow firms to prepare for the new regulatory requirements:

  • Licencing procedures for virtual asset service providers (effective from 01.06.2023),
  • Two-tier registration regime for dealers in precious metals and stones (effective 01.04.2023).

Relevant firms operating within Hong Kong should be aware of these requirements and take appropriate action.


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