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Advanced Diploma in Secretarial and Administrative Studies INFORMATION FOR EXEMPTION PROCEDURE 1. Application Procedure 1.1 Students of the Advanced Diploma in Management Studies (ARMS), formerly

How to fill out adms hkma form

How to fill out ADMS HKMA:

1. Begin by carefully reading through the instructions and guidelines provided by the Hong Kong Monetary Authority (HKMA) for completing the ADMS (Anti-Money Laundering and Counter-Terrorist Financing Data Maintenance System) form. Ensure that you have a clear understanding of the requirements and expectations.
2. Gather all the necessary information and documents required to fill out the ADMS HKMA form. This may include details about your company's ownership structure, beneficial owners, directors, shareholders, and any mandated information related to anti-money laundering and counter-terrorism financing.
3. Start by providing your company's basic information, such as the registered name, registration number, and address. It is essential to ensure accuracy in these details to maintain compliance with HKMA regulations.
4. Proceed to fill in the sections related to your company's beneficial owners, directors, and shareholders. Include details such as their full names, residential addresses, passport or identification numbers, and percentage of ownership or control. Make sure to provide accurate and up-to-date information for each individual.
5. Next, provide information on your company's relationships or affiliations with any politically exposed persons (PEPs) or individuals associated with high-risk jurisdictions. Include details of any business connections, partnerships, or financial transactions that may fall within these categories.
6. Fill out the sections related to your company's risk assessment and customer due diligence procedures. This may involve providing details of the processes and controls your organization has in place to identify and mitigate potential money laundering or terrorist financing risks. Highlight any risk management programs or policies that reflect your commitment to compliance.
7. Review the filled-out form for any errors or omissions. Ensure that all the provided information is accurate, complete, and aligned with the HKMA's guidelines. It may be helpful to have a second set of eyes review the form as well, to enhance accuracy and minimize the chances of mistakes.
8. If required, consult with your company's compliance officer or legal advisor to ensure that all the provided information is in compliance with relevant laws and regulations. They can provide guidance on any additional steps or considerations specific to your organization or industry.
9. Once you have reviewed and confirmed the accuracy of the filled-out ADMS HKMA form, submit it through the designated channel or platform as specified by the HKMA. Adhere to any deadlines or submission requirements provided to avoid any penalties or non-compliance issues.

Who needs ADMS HKMA?

1. Financial institutions operating in Hong Kong, such as banks, licensed corporations, or money service operators, are required to complete the ADMS HKMA form as part of their regulatory compliance obligations. This includes both local institutions and those with a presence in Hong Kong.
2. Non-financial businesses or professions (designated non-financial businesses or professions - DNFBPs) such as lawyers, accountants, real estate agents, dealers in precious metals and stones, or trust and company service providers, may also be required to fill out the ADMS HKMA form, depending on their specific activities and annual revenue thresholds.
3. Any entity or individual who falls within the scope of the HKMA's regulatory framework for anti-money laundering and counter-terrorism financing, and is designated as a reporting entity, will need to complete the ADMS HKMA form. It is crucial to refer to the HKMA guidelines or seek professional advice to determine if you or your organization are obligated to fill out this form.

For pdfFiller’s FAQs

What is adms hkma?

ADMS HKMA stands for Anti-Money Laundering and Counter-Terrorist Financing Disclosure System by the Hong Kong Monetary Authority.

Who is required to file adms hkma?

Financial institutions in Hong Kong are required to file ADMS HKMA.

How to fill out adms hkma?

ADMS HKMA can be filled out online through the Hong Kong Monetary Authority's designated platform.

What is the purpose of adms hkma?

The purpose of ADMS HKMA is to enhance the transparency and effectiveness of AML/CTF efforts in Hong Kong.

What information must be reported on adms hkma?

Information such as customer due diligence, suspicious transaction reports, and other AML/CFT-related data must be reported on ADMS HKMA.

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