Malaysia: Updates to the 2018 Special Voluntary Disclosure Programme

In our previous client alert published in November 2018, we covered the 2018 special voluntary disclosure programme ("SVDP") which was announced during the Budget...

Foreign Companies Permitted to Open Offshore Accounts in Ukraine

Starting from 7 February 2019, any foreign legal entity will be able to open a current account in Ukraine, both in UAH and in...

Common Reporting Standard: Potential Impacts on Financial Institutions in Thailand and Residents

Snapshot: The happeningsThailand has committed to new global regimes on exchanges of financial information among multiple jurisdictions by joining the Global Forum on Transparency...

Portugal: Legal Regime on the Beneficial Ownership Central Register – Implementation Ministerial Order

In Portugal, the Ministerial Order 233/2018, which regulates the Legal Regime on the Beneficial Ownership Central Register, was issued.

New Ecuadorean resolutions establish mandatory compliance programs for financial institutions and insurance companies

The Ecuadorean authorities have issued mandatory resolutions for compliance matters to establish anti-money laundering and financing of terrorism compliance programs.

EU: 5th EU Anti-Money Laundering Directive published

The EU Commission proposed the revised AMLD in July 2016 as part of its Action Plan against terrorism announced in February 2016, after the attacks in Paris and Brussels, and as a reaction to the Panama Papers published in April 2016.

New obligation for Spanish companies to disclose their ultimate beneficial owners

The Spanish Ministry of Justice issued Ministerial Order 319/2018 which requires Spanish non-listed companies to disclose their ultimate beneficial owners to the Companies Registry and keep said information updated.

Brazil publishes new resolution on Politically Exposed Persons

The Brazilian Control Council for Financial Activities published a new resolution on Politically Exposed Persons which will expand the list of people defined as Politically Exposed Persons.

UK introduces “Sanctions and Anti-Money Laundering Bill”

According the Government’s press release on the Bill “ensures that when the UK leaves the EU, we can continue to impose, update, and lift sanctions and AML regimes”.

Preventing and Repressing Money Laundering and Terrorist Funding in Portugal: Key Issues of a...

Preventive and repressive measures against money laundering and terrorist funding entered in force last September, 17 by means of Law no. 83/2017, of August 18. Some of the measures within a pack of prevention and repression were forecast for regulation.

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