FATF: Public Consultation on the Draft Risk-Based Approach Guidance for the Securities Sector

On 6 July FATF announced a public consultation on the draft risk-based approach guidance for the securities sector:

Public Consultation on the Draft Risk-Based Approach Guidance for the Securities Sector
6 July 2018

The FATF is currently developing guidance to assist countries, competent authorities and the securities sector in the application of a risk-based approach (RBA) to AML/CFT. The guidance is intended to provide support both to the private sector and to supervisors, by focusing on ML/TF risks and associated mitigation measures.

The FATF is consulting private sector stakeholders before the guidance is finalised, and wishes to receive your views on, and specific proposals to the text of the Draft RBA Guiance Securities Sector.

The draft guidance contains a section on specific guidance for securities providers and intermediaries (Section II). Your specific comments on whether this section provides sufficient clarity for the design and implementation of risk-based AML/CFT measures by the securities sector, and any additional suggestions, are welcome. The draft guidance also includes an Annex, setting out suspicious activity indicators in relation to the securities sector (Annex B). Your contribution to further expand these indicators would also be welcome.

While submitting your response, please indicate the name of your organisation, the nature of your business (broker-dealer, funds management, others), and your contact details. Further, please insert any specific drafting proposals directly in the attached text of the draft guidance in redlines. Please note that the current draft of the guidance has not been approved by the FATF at this stage. It will be subject to further revisions and amendments.

Your comments should reach us at FATF.Publicconsultation@fatf-gafi.org with subject-line “Comments of XX on the draft RBA Guidance for the Securities Sector”, no later than Friday, 17 August 2018. All the comments received will be shared with the FATF delegations.

FATF intends to adopt the final Guidance at its October 2018 Plenary meeting.


More on:
o FATF Guidance – Private Sector Information Sharing (November 2017)
o FATF Guidance on Correspondent Banking Services (October 2016)
o Consolidated FATF Standards on Information-sharing (June 2016)
o BCBS Guidelines on Sound management of risks related to money laundering and financing of terrorism (February 2016) [will open in a new window]
o FATF Guidance for a risk-based approach for the banking sector (October 2014)

Another consultation by FATF has AML/CFT the life insurance sector as the subject. Both consultations were announced in Dutch by the Dutch Authority for the Financial Markets (AFM) on 17 July 2018.

Over Ellen Timmer, advocaat ondernemingsrecht @Pellicaan

Verbonden aan Pellicaan Advocaten, http://www.pellicaan.nl/, kantoor Rotterdam, telefoon 088-6272287, fax 088-6272280, e-mail ellen.timmer@pellicaan.nl ||| Weblogs: algemeen: https://ellentimmer.com/ || modernisering ondernemingsrecht: http://flexbv.wordpress.com/ ||| Motto: goede bedoelingen rechtvaardigen geen slechte regels
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