On April, 16, 2018, the FSC introduced amendment to the Directions, which highlight the following requirements: when a credit rating agency changes its name or a life insurance firm lays down its rules and procedures for its wealth management activities, they shall step up their effort on preventing anti-money laundering and counter terrorist financing activities (AML/CTF) in accordance with AML/CTF related regulations, in order to enhance their AML/CFT mechanism.