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Amendments to Anti-Money Laundering Guidance Notes 21 December 2005

    The Financial Supervision Commission wishes to bring to your attention amendments to the Anti-Money Laundering Guidance Notes. Amongst the changes made is the inclusion of the Anti-Money Laundering (Amendment) Code 2005 which brings trust service providers licensed by the Commission within the definition of “regulated persons” thus enabling them to be treated as Eligible Introducers and Acceptable Applicants.

    The Anti-Money Laundering (Amendment) Code 2005 also brings requirements for the retention of transaction records inline with international standards. Transaction records should now be maintained for at least 5 years from the date of the transaction as reflected in the revised Anti-Money Laundering Guidance Notes.

    21st December 2005

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