Regulatory Alerts2025-06-30
Added
Notice SFA 04-N20 on AML/CFT Requirements for Cross-Border Arrangements with Foreign Offices
The Monetary Authority of Singapore issued Notice SFA 04-N20 to specify anti-money laundering and countering the financing of terrorism requirements for capital markets services licensees and exempt persons engaging in cross-border arrangements with Foreign Offices. The notice mandates that these entities maintain adequate internal policies and controls to ensure that their Foreign Offices perform customer due diligence measures consistently with the regulator's applicable standards. This current notice, effective from 1 July 2025, cancels the previous version dated 8 October 2021 to update the regulatory framework for these cross-border operations.