Regulatory Alerts2023-05-31
Added
MAS Notice FSM-N01 on Submission of Returns by Notified Entities
The Monetary Authority of Singapore issued Notice FSM-N01 to require Notified Entities relying on the Payment Services Exemption Regulations to submit specific operational returns. These entities must complete designated forms detailing transaction values and volumes for account issuance, money transfer, and digital payment token services covering the period from 1 January to 31 December 2022. The submissions must be approved by authorized directors, reported in Singapore dollars using specified exchange rate methodologies, and emailed to the Authority within 60 days of the notice's effective date on 1 June 2023.
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