Regulatory Alerts2006-03-06
Added
Monetary Authority of Singapore (Freezing of Assets of Persons – Democratic Republic of Congo) Regulations 2006
The Monetary Authority of Singapore issued these regulations pursuant to section 27A(1)(b) of the MAS Act to implement asset freezing requirements under UN Security Council Resolutions concerning the Democratic Republic of Congo. The regulations impose mandatory compliance obligations on all financial institutions in Singapore, including banks, insurers, fund managers, and payment service providers. These entities must adhere to the specified prohibitions and asset freezing measures to ensure alignment with international security mandates.
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