Austrac issues draft AML managed investment rule

Austrac has issued draft AML/CTF Rules (pdf)to allow customers who acquired interests in a managed investment scheme between 12 December 2007 and 30 January 2008, to be treated as pre-commencement customers under the AML/CTF Act, so that the identification procedures requirements do not apply to them.

A public consultation period is open until 10 March 2008.

See here for background