Regulatory Alerts2024-08-19
Obligations on Reporting Institutions Undertaking Private Placement Activities
The Securities Commission Malaysia issued this document to clarify the anti-money laundering and counter-terrorist financing obligations for Reporting Institutions conducting private placement exercises. It mandates strict adherence to Customer Due Diligence, including enhanced scrutiny of subscription values relative to declared income and rigorous evaluation of third-party deposits. The guidelines further require ongoing monitoring of placees, comprehensive record-keeping, and employee training to mitigate financial crime risks.
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