Regulation SUGEF 11-18, approved by the National Council for the Supervision of the Financial System and effective as of January 1st of this year, sets new registration and reporting requirements for Designated Non-Financial Businesses and Professions (DNFBP), including money transfer, fund management and other commercial and professional activities listed in the Costa Rican anti-money laundering law (Law # 7786). Under the new regulation, banks and other regulated financial institutions are required to monitor their clients, to make sure they comply with registration requirements when applicable.