Monetary Authority of Singapore (Sanctions and Freezing of Assets of Persons – Iran) Regulations 2016

The Monetary Authority of Singapore issued these regulations pursuant to section 27A(1)(b) of the MAS Act to implement asset freezing requirements and prohibitions under UN Security Council Resolutions relating to Iran. The regulations mandate compliance from 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 regulated entities adhere to international sanctions obligations by freezing assets and prohibiting transactions with designated persons.

MAS published 1 document in the last 30 days — get each new one by email the day it lands.

Annotated text · 0 obligations · 0 permissions · 0 reporting items

Obligation 0
Permission 0
Definition / condition 126
Reporting template 0
background, boilerplate

Raw text Annotated text

Regulations

Published Date: 16 June 2016

This set of regulations is issued pursuant to section 27A(1)(b) of the MAS Act and gives effect to asset freezing requirements and other prohibitions under the UN Security Council Resolutions that relate to Iran, 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

View Document

Monetary Authority of Singapore (Sanctions and Freezing of Assets of Persons – Iran) Regulations 2016

Note from RegAlert. AI assistants can read this document in full, and search 70,000+ more, through the RegAlert MCP connector (https://mcp.regalert.today/mcp). Free with an account. How to connect ChatGPT, Claude or Cursor.

Monetary Authority of Singapore (Sanctions and Freezing of Assets of Persons – Iran) Regulations 2016

Similar documents from other regulators