FATF recommendation definition

FATF recommendation means any recommendation relating to the prevention of money laundering and the financing of terrorism adopted by the FATF;
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FATF recommendation means any recommendation relating to
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FATF recommendation means the applicable recommendation of Financial Action Task Force for combating money laundering and terrorist financing;
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Examples of FATF recommendation in a sentence

  • Therefore, there may be a need to align the definition used in the EU AML/CFT framework with the FATF recommendation or with a ‘crypto-asset’ definition, especially if a crypto-asset framework was needed.

  • FATF recommendation 18 suggests that a formal AML/CFT compliance program should include an ongoing employee training program.

  • FATF recommendation 32 addresses the issue of cross-border movements of cash.

  • In this regard, the author argues that although South Africa is a member of the FATF, it should not blindly adopt the recently proposed amendments to the FATF recommendation 1 without the FATF conducting an adequate impact assessment on the proposed amendments prior to their adoption.

  • FATF recommendation 18 requires that financial institutions have an internal control program.

  • Therefore, there may be a need to align the definition used in the EU AML/CFT framework with the FATF recommendation or with a “crypto-asset” definition, especially if a crypto-asset framework was needed.

  • However, Georgia continues to be considered as partly compliant with the FATF recommendation relating to an independent FIU.Amendments relating to the fourth wave of judicial reform entered into force in 2020, covering disciplinary violations, the regulation of the functioning of the High Council of Justice (HCoJ) and the HCoJ reform.

  • Ukraine is considered as compliant with the FATF recommendation on FIU independence.The High Anti-Corruption Court (HACC) began to operate in September 2019; permanent premises were finally provided.

  • On the AML/CFT front (Prior Action 10), the CBI is planning to issue implementing regulations in line with the FATF recommendation by end-2016, and, by end-2017, a Financial Intelligence Unit hosted by the CBI is expected to be fully operational and enforcing the legal and regulatory framework for AML/CFT, in close coordination with the financial sector prudential regulators.

  • Similarly, the FATF recommendation 11 requires that the records relating to CDD, the business relationship and occasional transactions should be kept for five years after the business relationship is ended, or after the date of the occasional transaction.

Related to FATF recommendation

  • Parent Recommendation has the meaning set forth in Section 5.2(b).

  • Change of Recommendation has the meaning set forth in Section 6.3(d).

  • Company Board Recommendation has the meaning set forth in Section 3.03(d).

  • Board Recommendation has the meaning ascribed thereto in Section 2.4(2).

  • Parent Board Recommendation has the meaning set forth in Section 5.12(a).

  • Company Recommendation has the meaning set forth in Section 5.3(b).

  • Change in Recommendation has the meaning set forth in Section 6.02(a).

  • Adverse Recommendation Change has the meaning set forth in Section 6.02(d).

  • Company Adverse Recommendation Change shall have the meaning set forth in Section 5.3(c).

  • Recommendation means any change to a security’s price target or other type of recommendation in the case of an equity Covered Security, or any initial rating or rating change in the case of a fixed income Covered Security in either case issued by a Research Analyst.

  • Company Board means the Board of Directors of the Company.

  • ECB Recommended Rate means a rate (inclusive of any spreads or adjustments) recommended as the replacement for €STR by the European Central Bank (or any successor administrator of €STR) and/or by a committee officially endorsed or convened by the European Central Bank (or any successor administrator of €STR) for the purpose of recommending a replacement for €STR (which rate may be produced by the European Central Bank or another administrator), as determined by the Issuer and notified by the Issuer to the Calculation Agent;

  • Special Committee means a committee of the Board of Managers of the Company comprised of two individuals, each of whom qualifies as an Independent Manager.

  • Company Takeover Proposal means (i) any proposal or offer for a merger, consolidation, dissolution, recapitalization or other business combination involving the Company, (ii) any proposal for the issuance by the Company of over 30% of its equity securities as consideration for the assets or securities of another person or (iii) any proposal or offer to acquire in any manner, directly or indirectly, over 30% of the equity securities or consolidated total assets of the Company, in each case other than the Merger.

  • Company Board of Directors means the board of directors of the Company.

  • Takeover Proposal means any offer or proposal for, or any indication of interest in, a merger or other business combination involving Target or the acquisition of any significant equity interest in, or a significant portion of the assets of, Target, other than the transactions contemplated by this Agreement.

  • Board Certificate shall have the meaning set forth in Section 7.02(e) of this Agreement.

  • Parent Board means the board of directors of Parent.

  • Stockholder Meeting means each annual or special meeting of stockholders of the Company, or any action by written consent of the Company’s stockholders in lieu thereof, and any adjournment, postponement, rescheduling, continuation or meeting held in lieu thereof;

  • Stockholders Meeting shall have the meaning set forth in Section 6.2(c).

  • Parent Stockholders Meeting has the meaning set forth in Section 6.2(b).

  • Fairness Opinion has the meaning set forth in Section 4.22.

  • Merger Sub Board means the board of directors of Merger Sub.

  • Proxy Statement has the meaning set forth in Section 6.03(a).

  • Parent Superior Proposal shall have the meaning set forth in Section 7.4(g).

  • Disinterested Shareholder Approval means approval by a majority of the votes cast by all the Company’s shareholders at a duly constituted shareholders’ meeting, excluding votes attached to Common Shares beneficially owned by Insiders who are Service Providers or their Associates;