Monetary Authority of Singapore (Freezing of Assets of Persons – Yemen) Regulations 2015

The Monetary Authority of Singapore issued these regulations pursuant to section 27A(1)(b) of the MAS Act to implement asset freezing requirements mandated by UN Security Council Resolutions concerning Yemen. The regulations impose compliance obligations on all financial institutions in Singapore, covering a broad spectrum of entities including banks, insurers, fund managers, and payment service providers. This legal framework ensures that designated persons and entities linked to Yemen are subject to asset freezes in accordance with international security mandates.

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Regulations

Published Date: 06 March 2015

This set of regulations is issued pursuant to section 27A(1)(b) of the MAS Act and gives effect to asset freezing requirements under the UN Security Council Resolutions that relate to Yemen, which all financial institutions in Singapore must comply with.

AML/CFT

Applies to:

Credit/Charge Card Issuer

Finance Company

Full Bank (Branch)

Full Bank (Locally Incorporated)

Merchant Bank (Branch)

Merchant Bank (Locally Incorporated)

Wholesale Bank (Branch)

Wholesale Bank (Locally Incorporated)

Financial Holding Company (Banking)

Exempt Trust Company

Licensed Trust Company

Exempt Person Providing Trust Services

Approved CIS Trustee

Benchmark Administrator/Submitter

Central Securities Depository

Clearing House

Corporate Finance Advisory

Credit Rating Agency

Dealing in Capital Markets Products

Exempt Capital Markets Services Entity

Exempt Corporate Finance Adviser Serving Accredited Investors

Exempt Futures Broker

Exempt OTC Derivatives Broker

Foreign Fund Manager

Holding Company of Exchange or Clearing House

Licensed Fund Management Company

Members of Public

Markets and Exchanges

OTC Counterparties

Money Broker

Product Financing

Providing Custodial Services

Registered Business Trust

Registered Fund Management Company

REIT Management

Securities Crowdfunding

Venture Capital Fund Management Company

Trade Repository

Exempt Financial Adviser

Exempt Financial Adviser Serving up to 30 Accredited Investors

Licensed Financial Adviser

Direct Insurer (Life)

Direct Insurer (General)

Direct Insurer (Composite)

Reinsurer (Life)

Reinsurer (General)

Reinsurer (Composite)

Captive Insurer

Lloyd's Asia Scheme

Authorised Reinsurer

Representative Office (Insurance)

Approved MAT Insurer

Financial Holding Company (Insurance)

Registered Insurance Broker

Exempt Insurance Broker

Approved Insurance Broker

Lloyd's Broker

Technology

Credit and Charge Card Licensee

Designated Payment System Operator

Designated Payment System Settlement Institution

Standard Payment Institution

Major Payment Institution

Money-changing Licensee

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Monetary Authority of Singapore (Freezing of Assets of Persons — Yemen) Regulations 2015

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Monetary Authority of Singapore (Freezing of Assets of Persons – Yemen) Regulations 2015

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