Regulatory Update Series

[Webinar] Preparation for Proposed Changes of SFC’s AML/CFT Guidelines



On 18 September 2020, the Securities and Futures Commission (SFC) started a three month consultation on a wide range of proposed changes to its Guideline on Anti-Money Laundering and Counter-Financing of Terrorism (For Licensed Corporations) (Guideline) and the Prevention of Money Laundering and Terrorist Financing Guideline issued by the SFC for Associated Entities (AE Guideline).

This webinar will provide an overview on the SFC’S proposed changes to the Guideline and AE Guideline, focusing on risk-based approach and cross-border correspondent relationships for the securities sector. The speaker will also share the corresponding potential impacts on Licensed Corporations (LC) and the preparatory work for them to implement the proposed changes.


By the end of the webinar, participants will be able to:

- Understand the SFC’s proposed changes on the AML/CFT guidelines and how these changes will affect the operations and compliance functions of the LC.


1. Overview of the proposed changes of the SFC’s AML/CFT guidelines, including:
- Regulatory expectation on institutional risk assessment
- Application for the cross-border correspondent relationships provisions for the securities sector and the additional respective measures
2. Sharing on the corresponding potential impacts on the LC
3. Preparatory work to implement the proposed changes

Who should attend

Senior Management, Responsible Officers, Manager-in-Charge of AML/CFT, Money Laundering Reporting Officers, and Compliance professionals from the LC

Financial Incentive Scheme of the WAM Pilot Programme

This is one of the eligible courses / seminars under the Financial Incentive Scheme (“The Scheme”) of the WAM Pilot Programme.

Eligible in-service practitioners of the financial services industry could apply for a reimbursement up to 80% of the course / seminar fees, or a maximum of HK$10,000 per person throughout the period of 1 October 2016 to 31 March 2023 upon satisfactory completion.

Each individual may apply for reimbursement for more than one course / seminar subject to a maximum of HK$10,000 but each course / seminar can only be reimbursed once.

The duly signed application form together with the FIVE supporting documents must be submitted within FOUR months from the last day of the course / seminar attended. Please refer to the WAM Pilot Programme website for more details.

Speaker/Course Instructor

Samuel LUNG
Mr Lung is currently a Partner in Financial Services Risk Management with one of the Big 4 accounting firm. Prior to his current role, he was a Director and Chief Operating Officer of a global European bank, Hong Kong Branch. He has around 20 years of experience in the banking industry with focus on compliance, fraud investigations and financial crime. He held senior and managerial AML compliance positions at various global banks. He was also an investigative officer of the Independent Commission Against Corruption (ICAC), with experience in police corruption, election corruption and bank fraud investigations. He has led several regulatory driven AML reviews in the securities sector.


Date & Time
Wednesday, 4 Nov 2020 (12:20PM - 1:20PM)
Virtual Platform
SFC:1.00, PWMA:1.00