Regulatory Alerts2025-06-30
Added
Notice FAA-N06 on Prevention of Money Laundering and Countering the Financing of Terrorism - Financial Advisers
The Monetary Authority of Singapore issues Notice FAA-N06 to impose anti-money laundering and countering the financing of terrorism requirements on licensed and exempt financial advisers. The notice mandates robust controls including risk assessment, customer due diligence, record keeping, and suspicious transaction reporting to detect illicit funds. It also specifies AML/CFT obligations for cross-border arrangements with Foreign Offices and Foreign Related Corporations under relevant exemption regulations.