Regulatory Alerts2021-01-01
Isle of Man Financial Services Authority Sector Specific AML/CFT Guidance Notes for Investment Business
The Isle of Man Financial Services Authority issued this guidance to address anti-money laundering and countering the financing of terrorism risks specific to the investment business sector. The document mandates that firms conduct comprehensive business, customer, and technology risk assessments while implementing robust customer due diligence measures. It further details sector-specific vulnerabilities and red flags for asset management, financial advisers, and stockbroking to ensure effective ongoing monitoring and suspicious activity reporting.
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