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NFA Reminds Members to Comply with Latest AML/CFT Deficiencies List

NFA advised futures commission merchants and introducing brokers to review the updated Financial Action Task Force ("FATF") list of jurisdictions with strategic anti-money laundering and combating the financing of terrorism ("AML/CFT") deficiencies. The NFA advised its members to update their AML/CFT programs accordingly.

The NFA notice follows a Financial Crimes Enforcement Network (FinCEN) advisory, which stated that changes to the FATF list may affect U.S. financial institutions' risk-based due diligence obligations concerning the affected jurisdictions.

Primary Sources

  1. NFA Notice I-19-16: FCM and IB Members - FinCEN Updates List of FATF-Identified Jurisdictions with AML/CFT Deficiencies
  2. FinCEN Advisory (FIN-2019-A004): Advisory on Financial Action Task Force-Identified Jurisdictions with Anti-Money Laundering and Combating Financing of Terrorism Deficiencies and Relevant Actions by U.S. Government

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Tags

Regulated Activities
AML Compliance
Regulated Entities
FCMs and IBs, Floor Brokers
Body of Law
CEA Regulation
Jurisdiction
US - Federal
Organization
CFTC, NFA, CFTC Markets
Sub-Author
NFA