FATF Pressures Independent UBO Verification
Global FATF evaluations signal that Hong Kong TCSPs must move beyond self-declared data for UBO verification.
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Re-domiciliation Demands Stricter Checks
Hong Kong’s inward corporate re-domiciliation regime creates complex UBO and AML verification challenges for TCSPs.
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Companies Registry Updates TCSP Guidelines
Revised CR guidelines reduce the CDD verification timeline to 30 days and mandate biennial Institutional Risk Assessments.
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Companies Registry Launches Inspection Phase
Phase 3 of the New Inspection Regime commenced, withholding sensitive personal data and requiring TCSPs to apply as specified persons.
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Introduction of Former PEP Rules
Statutory amendments effective April 2023 establish a risk-based approach for handling former Politically Exposed Persons.
