Regulatory Alerts2023-04-27
Added · Updated
Key observations and good practices for on-boarding corporate customers
The document outlines key observations and good practices for Authorized Institutions (AIs) to improve the on-boarding process for corporate customers. It mandates that AIs implement timely application processing, adopt risk-based approaches rather than outright rejections, and apply proportionate Customer Due Diligence measures. Specific guidance is provided for Virtual Asset Service Providers and customers from FATF grey-listed jurisdictions to prevent undue burdens and ensure consistent implementation.