Regulatory Alerts2025-06-30
Added · Updated
Guidelines to Notice SFA 04-N02 on Prevention of Money Laundering and Countering the Financing of Terrorism - Capital Markets Intermediaries
These guidelines provide guidance to capital markets intermediaries on the requirements in MAS Notice SFA04-N02 regarding the prevention of money laundering and countering the financing of terrorism. They clarify definitions for connected parties, customers, and legal arrangements, and outline customer due diligence approaches for portfolio managers and distributors. The document mandates enterprise-wide risk assessments approved by senior management and details the three lines of defence structure for governance and compliance oversight.