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AML-1.11.3

Past version: Effective from 01 Jan 2020 to 30 Sep 2021
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Capital Market Service Providers must implement the following additional measures, prior to opening a correspondent account:

(a) Complete a signed statement that outlines the respective responsibilities of each institution in relation to money laundering detection and monitoring responsibilities; and
(b) Ensure that the correspondent relationship has the approval of senior management.
Added: January 2020