The Angolan legal framework on money-laundering and terrorism financing has been strengthened by the enactment of Regulation No. 4/16, of 2 June 2016, as approved by the Board of Directors of the Capital Market Commission. The Regulation will come into force on 1 August 2016 and it applies to the financial institutions under the Capital Market Commission supervision, as well as other entities, notably those managing regulated markets or providing services related to investments in securities. It sets forth specific compliance rules regarding client identification and diligence, risk assessment systems and internal monitoring procedures. The entities covered by the Regulation will also be required to have a Compliance Officer who will be responsible for the enforcement of procedures and policies aimed at preventing money laundering and terrorism financing.
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