In addition to a comprehensive legislative framework, the banking, securities, insurance, futures and leveraged foreign exchange, and remittance and money changing sectors have also put in place systems to counter money laundering. The Hong Kong Monetary Authority, the Office of the Commissioner for Insurance, the Securities and Futures Commission and the Customs and Excise Department have all issued guidelines on money laundering to those industries under their respective supervision. These guidelines require the industries to observe stipulated standards and procedures in record keeping, customer identification and reporting of suspicious transactions. The guidelines are updated regularly to be in step with latest FATF recommendations and legislative changes.