Regulatory Alerts2025-06-30
Added
MAS Notice SFA 04-N19 on AML/CFT Requirements for Cross-Border Arrangements with Foreign Related Corporations
The Monetary Authority of Singapore issued Notice SFA 04-N19 to impose ongoing anti-money laundering and countering the financing of terrorism requirements on specified capital markets services licensees and other financial institutions engaging in cross-border arrangements with Foreign Related Corporations. The notice mandates that these entities maintain adequate internal policies, procedures, and controls to ensure that customer due diligence measures performed by Foreign Related Corporations remain consistent with applicable regulatory standards. This updated notice, effective 1 July 2025, cancels the previous version dated 8 October 2021 to reflect current regulatory expectations for these cross-border business activities.