SFC Circular : Anti-Money Laundering / Counter-Financing of Terrorism
Due to The Securities and Futures (Financial Resources) (Amendment) Rules 2018 were enacted on 12 December 2018 and some amendments which relate to the exclusion of certain lease liabilities from licensed corporations’ liquid capital calculations came into operation on 1 January 2019. SFC specifies new electronic form of financial return published on their website https://www.sfc.hk/web/EN/forms/intermediaries/financial-returns.html which shall be used for a return required to be submitted under section 56 of the FRR and such forms supersede all previous versions of such form with effect from 1 February 2019.
In summary, Form 2 has been amended with an additional new cell “2006A”, which allows LCs to report excluded lease liabilities.
Please refer details of the Circular by the following link:
Circular to licensed corporations - Revised financial return
Issued Date: 25 Jan 2019
Link to the new FRR Form:
Reference : SFC Circular
Source: Compliance Commit