Regulatory Alerts2019-03-31
FSB & PB Handbooks on Countering Financial Crime and Terrorist Finance Website FAQs
The Guernsey Financial Services Commission issued this guidance to clarify regulatory expectations for financial services businesses and lawyers regarding anti-money laundering and counter-terrorist financing obligations. The document details requirements for conducting Business Risk Assessments, notifying the Commission of material compliance failures, and managing customer due diligence and third-party reliance. It further addresses specific operational risks, including the impact of business relationship duration on risk ratings and the certification of copy documentation.
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