The proposals aim to improve transparency and strengthen the enforcement of anti-money laundering laws, the two regulators said in a joint-statement on their websites.
The regulators will seek feedback on the draft rules from the public before they take effect from March 1, with a grace period for businesses to comply.Reporting by Cheng Leng, Stella Qiu, Ryan Woo; Editing by Kirsten DonovanSubscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.