Regulatory Alerts2018-10-08
Added · Updated
Circular CMI 02/2015 on Enhancing Anti-Money Laundering and Countering the Financing of Terrorism Measures and Business Conduct
The Monetary Authority of Singapore issued this circular to broker-dealers following thematic inspections that identified deficiencies in anti-money laundering and business conduct controls. The document mandates enhanced compliance with revised regulations, requiring formalized policies, rigorous customer due diligence, enterprise-wide risk assessments, and strict screening against terrorist financing lists. Additionally, broker-dealers are required to implement timely post-execution trade reviews to detect market manipulation and ensure effective oversight by senior management.
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