The National Futures Association ("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 advisory which stated that changes to the FATF list may affect U.S. financial institutions' risk-based due diligence obligations concerning the affected jurisdictions.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.