Regulatory Alerts2025-06-30
Added · Updated
Notice SFA 04-N02 to Capital Markets Intermediaries on Prevention of Money Laundering and Countering the Financing of Terrorism
This Notice applies to capital markets service licence holders and exempted persons, taking effect on 1 July 2025. It requires intermediaries to identify, assess, and mitigate money laundering and terrorism financing risks through documented risk assessments and senior management-approved controls. Intermediaries must perform customer due diligence, including verifying identities and beneficial owners, before establishing business relations or executing digital capital markets product token transactions. The rules prohibit anonymous accounts and mandate suspicious transaction reporting when reasonable grounds for suspicion exist.