Circular to Licensed Corporations, SFC-licensed Virtual Asset Service Providers and Associated Entities
Anti-Money Laundering / Counter-Financing of Terrorism
United Nations Sanctions (Joint Comprehensive Plan of Action-Iran) (Amendment) Regulation 2024
The United Nations Sanctions (Joint Comprehensive Plan of Action-Iran) (Amendment) Regulation 2024 (the Amendment Regulation), made under the United Nations Sanctions Ordinance (Cap. 537) (UNSO), was published in the Gazette (L.N. 107 of 2024) on 28 June 2024 with immediate effect.
The Amendment Regulation amends the United Nations Sanctions (Joint Comprehensive Plan of Action-Iran) Regulation (Cap.537BV) to reflect the expiry of certain restrictive measures imposed against Iran under United Nations Security Council Resolution 2231. The expired measures mainly relate to prohibition against the supply, sale, transfer or carriage of certain items to/from Iran; the provision of certain training, services or assistance related to conventional arms; the provision or transfer of certain technology, assistance, training, services or resources related to ballistic missiles; making available to, or for the benefit of, certain persons or entities any funds or other financial assets or economic resources (economic assets); dealing with economic assets belonging to, or owned or controlled by, certain persons or entities; the sale and acquisition of interest in certain commercial activities; and entry into or transit through the Hong Kong Special Administrative Region by certain persons.
The Amendment Regulation can be found on the Government’s website (https://www.gld.gov.hk/egazette/english/gazette/file.php?year=2024&vol=28&no=26&extra=0&type=2&number=107).
Licensed corporations, SFC-licensed virtual asset service providers and associated entities are reminded to refer to Chapter 6 of the Guideline on Anti-Money Laundering and Counter-Financing of Terrorism (For Licensed Corporations and SFC-licensed Virtual Asset Service Providers) (AML/CFT Guideline) which contains guidance on the appropriate measures that licensed corporations, SFC-licensed virtual asset service providers and associated entities should take to ensure compliance with the regulations made under the UNSO1.
Should you have any queries regarding the contents of this circular, please contact Ms Kiki Wong at 2231 1569 who will assist in referring your queries to the relevant officer.
Intermediaries Supervision DepartmentIntermediaries DivisionSecurities and Futures Commission
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SFO/IS/022/2024
1 Under paragraph 6 of the Prevention of Money Laundering and Terrorist Financing Guideline issued by the Securities and Futures Commission for Associated Entities of Licensed Corporations and SFC-licensed Virtual Asset Service Providers, associated entities that are not authorized financial institutions are expected to have regard to the provisions of the AML/CFT Guideline as if they were themselves licensed corporations and/or SFC-licensed virtual asset service providers.
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