Regulatory Alerts2024-04-02
Added
Payment Services Regulations 2019
The Monetary Authority of Singapore issued the Payment Services Regulations 2019 to establish licensing and ongoing compliance requirements for entities regulated under the Payment Services Act. These regulations define obligations for designated payment system operators, standard and major payment institutions, and money-changing licensees, while also outlining specific exemptions from the Act. Additionally, the document references subsequent amendments and consultation papers regarding incident reporting guidance and proposed limits on e-money accounts issued by major payment institutions.
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