AML-1.9.1

Capital Market Licensees must not establish business relations with shell financial institutions which have no physical presence or 'mind and management' in the jurisdiction in which they are licensed and which are unaffiliated with a regulated financial group. Capital Market Licensees must not knowingly establish relations with other Capital Market Licensees or financial institutions that have relations with shell financial institutions.

Amended: January 2022
Amended: January 2020
Amended: July 2016
Added: October 2010