FC-4.2.6

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In accordance with the AML Law, investment firm licensees, their Directors, officers and employees:

(a) Must not warn or inform ('tipping off') their customers, the beneficial owner or other subjects of the STR when information relating to them is being reported to the relevant authorities; and

(b) In cases where investment firm licensees form a suspicion that transactions relate to money laundering or terrorist financing, they must take into account the risk of tipping-off when performing the CDD process. If the investment firm licensee reasonably believes that performing the CDD process will tip-off the customer or potential customer, it may choose not to pursue that process, and must file an STR.

Amended: January 2018
Amended: January 2007