August 21, 1996
TO: INTERNATIONAL COMMITTEE No. 30-96
RE: MONEY LAUNDERING GUIDANCE NOTES
______________________________________________________________________________
At the joint meeting of the International Committee and representatives of the European
mutual fund industry on May 22, 1996, Institute members expressed interest in obtaining more
information about the procedures used by European firms to assure compliance with applicable
European money laundering statutes. Representatives from the UK indicated that guidance
notes have been issued in the UK for this purpose.
This memorandum provides further information about the publications that were
discussed at the May 22 meeting. The publication of most relevance to mutual fund managers
is Guidance Notes for Insurance and Retail Investment Products (the "Green Book"). Separate
guidance notes exist for mainstream banking, lending and deposit taking (the "Red Book"), for
wholesale, institutional and private client investment business (the "Yellow Book"), and for
Receiving Bankers (the "Blue Book").
The publications are available from the Joint Money Laundering Steering Group, 10
Lombard Street, London EC3V 9EL. The cost is £5 per copy.
Mary S. Podesta
Associate Counsel - International
podesta/wp/internat/monlaund.doc