Fri. Nov 27th, 2020

The Government today launched a consultation exercise to gauge public views on legislative proposals to enhance anti-money laundering and counter-terrorist financing regulation in Hong Kong.

The proposals cover the introduction of a licensing regime for virtual asset services providers; a registration regime for dealers in precious metals and stones; and miscellaneous technical amendments under the Anti-Money Laundering & Counter-Terrorist Financing Ordinance.

The consultation will last for three months until January 31.

The proposals are intended to bring Hong Kong’s regulatory regime up to date in line with the latest international requirements as promulgated by the Financial Action Task Force.

The task force is an inter-governmental body that sets international standards on anti-money laundering and counter-terrorist financing. Hong Kong has been a member since 1991.

Views can be sent via mail, fax (2527 0790) or email.

Click here for the consultation paper.

By Bureau