Regulatory Alerts2025-06-30
Added
MAS Notice FAA-N25 on AML/CFT Requirements for Cross-Border Arrangements with Foreign Offices
The Monetary Authority of Singapore issued Notice FAA-N25 to impose ongoing anti-money laundering and countering the financing of terrorism requirements on licensed and specified exempt financial advisers engaging in cross-border arrangements with Foreign Offices. The notice mandates that these entities maintain adequate internal policies, procedures, and controls to ensure that Customer Due Diligence measures performed by Foreign Offices are consistent with applicable regulatory standards. This document supersedes the previous version dated 8 October 2021 and takes effect on 1 July 2025.