The Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) (Amendment) Bill 2017 was passed in LegCo on 24 January 2018. With effect on 1 March 2018, Designated Non-Financial Businesses and Professions (DNFBPs), including solicitors, accountants, real estate agents, and trust or company service providers ("TCSPs"), are required to observe statutory customer due diligence ("CDD") and record-keeping requirements when engaging in specified transactions. Also, a new licensing regime for trust and company service providers (TCSPs) will come into operation, together with a new regime requiring companies to keep and maintain a Significant Controllers Register.
This seminar will focus on how DNFBPs shall respond and effectively manage compliance to the new requirements. Speakers will answer critical questions about enhancing AML/CFT regulation to DNFBPs, including a panel discussion from experts in different industries to share their views on how to manage this regulatory change.
• Overview and latest update on the Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) (Amendment) Bill 2017
• Key impacts on DNFPBs
• How to implement for this regulatory change and case sharing
• Panel Discussion: How to manage this regulatory change and challenges?
Anthony Kwok, President from Society of Hong Kong Real Estate Agents Ltd
Mohan Datwani, Senior Director and Head of Technical and Research from The Hong Kong Institute of Chartered Secretaries
Eric Chan, Senior Associate from Chin & Associates Solicitors
Katherine Li, Finance and Compliance Manager from Noah Trust (Asia) Ltd
Raymond Tsui, Senior Manager from Sia Partners Hong Kong
• Introduction of AML Vendor solutions