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IOSCO has adopted the principle that regulators should require securities (including derivatives) market intermediaries to have in place policies and procedures designed to minimize the risk of the use of an intermediary's business as a vehicle for money laundering. IOSCO subsequently endorsed principles to address the application of the client due diligence process in the securities industry, and the FATF has issued 40 Recommendations on combating money laundering and the financing of terrorism. Through this paper, IOSCO provides guidelines on how to apply global AMF/CFT standards to the operation of collective investment schemes (CIS).