News

Fund managers can’t outsource AML

Tuesday 19th of March 2013

The FMA has written an open letter to managers of collective investment schemes (CIS), which are reporting entities under the Anti-Money Laundering and Countering Financing of Terrorism Act, which kicks in from June 30.

The regulator said there were several characteristics of CIS that might make them more vulnerable to money laundering.

These characteristics could include: Conside...

Want to read the full article?
Click the button below to subscribe and will have unlimited access to full article and all other articles on the site.