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This guidance is required to address the difference between “open-end” CIS and “exchange-listed” CIS, the distinctions between a CIS, its advisors and managers, and the intermediaries involved in distributing the CIS, with regard to their respective roles in verifying the identity of unit-holders in a CIS, potential low-risk situations, and the outsourcing to other entities, and reliance on other financial institutions with regard to the performance of certain anti-money laundering procedures.
This guidance is intended to be consistent with, and to build upon, the IOSCO CIBO Principles and the FATF 40 Recommendations. It is not intended to supersede or conflict in any way with the IOSCO CIBO Principles or the FATF 40 Recommendations.
IOSCO conducted a consultation on the draft report in February. Comments received on the consultation report on “Anti-Money Laundering Guidance for Collective Investment Schemes” can be downloaded below.
Final report
Comments received