by Argus | Consultation Paper, Payment Services Bill
Monetary Authority of Singapore (“MAS”) released a consultation paper on 23 December 2019 on proposed changes to the Payment Services Act 2019 (“Payment Services Act”). The consultation paper closed on 28 January 2020 and MAS has released comments on responses...
by Argus | Anti Money Laundering, Financial Institutions, News
In its Enforcement Report published today, the Monetary Authority of Singapore (MAS) has detailed several actions against financial institutions (FIs) and individuals for market abuse, financial misconduct, and control breaches related to money laundering. The MAS...
by Argus | Compliance, Financial Institutions
Monetary Authority of Singapore (“MAS”) issued Notice FAA-N02 Requirements for the Remuneration Framework for Representatives and Supervisors (“Balanced Scorecard Framework”) and Independent Sales Audit Unit. MAS also released a Guidelines on the Remuneration...
by Argus | Compliance, Ongoing Compliance
In late 2019, Ministry of Law (“Minlaw”) reminded all precious metal dealers to register their business with the Registrar of Regulated Dealers under the Precious Stones and Precious Metals (Prevention of Money Laundering and Terrorism Financing) Act 2019 (“AML/CFT...
