Submissions Analysis of the Exposure Draft Amendment Bill for Phase 2 of the AML/CFT Reforms [pdf, 8 MB]
...to State-owned enterprises and subsidiaries of publically listed entities in countries with sufficient AML/CFT systems. Submitters feel the simplified due diligence provisions should be extended to several other entities e.g. foreign regulated and licenced financial businesses. Streamlining the Ministerial exemption process: Submitters support streamlining the Ministerial exemption process to exclude businesses with low level of risk from either part or all of their obligations under th...