Regulatory Alerts2015-10-28
Added
Circular to Corporate Finance Firms on Enhancing Anti-Money Laundering and Countering the Financing of Terrorism Measures and Business Conduct
The Monetary Authority of Singapore issued this circular to Capital Markets Services Licence holders and exempt corporate finance firms following thematic inspections of their anti-money laundering and business conduct controls. The document outlines common findings and good practices regarding customer due diligence, enterprise-wide risk assessments, tax risk management, and staff trading policies. It mandates that firms align their internal policies with the revised SFA04-N02 and Guidelines effective April 2015, ensuring consistent application of AML/CFT measures and enhanced oversight by senior management.