Notice SFA 04-N02 to Capital Markets Intermediaries on Prevention of Money Laundering and Countering the Financing of Terrorism
Requirements for capital markets intermediaries on anti-money laundering (AML) and countering the financing of terrorism (CFT).
Financial institutions operating in Singapore are required to put in place robust controls to detect and deter the flow of illicit funds through Singapore's financial system. Such controls include the need for financial institutions to identify and know their customers (including beneficial owners), to conduct regular account reviews, and to monitor and report any suspicious transaction.
The AML/CFT requirements for capital markets intermediaries can be found in this notice, which includes the following:
- Risk assessment and risk mitigation.
- Customer due diligence.
- Reliance on third parties.
- Correspondent accounts.
- Record keeping.
- Suspicious transaction reporting.
- Internal policies, compliance, audit and training.
Amendment Notes
- 01 Mar 2022
- Notice SFA04-N02 (Amendment) 2022 (313.4 KB) takes effect.
- 01 Jul 2021
- Notice SFA04-N02 (Amendment) 2021 (416 KB) takes effect. Notice SFA04-N02 last revised on 28 June 2021 (412.8 KB).
- 30 Nov 2015
- Notice SFA04-N02 (Amendment) 2015 (34.3 KB) takes effect. Notice SFA04-N02 last revised on 30 November 2015 (163.9 KB).
- 24 May 2015
- Notice SFA04-N02 dated 24 April 2015 (263.8 KB) takes effect and Notice SFA 04-N02 dated 2 July 2007 is cancelled.
- 01 Jul 2014
- Notice SFA04-N02 (Amendment) 2014 (74.1 KB) takes effect. Notice SFA04-N02 last revised on 1 July 2014 (178.1 KB).
- 23 Jan 2013
- Notice SFA04-N02 (Amendment) 2013 (195.7 KB) takes effect. Notice SFA04-N02 last revised on 23 January 2013 (195.7 KB).
- 07 Aug 2012
- Notice SFA04-N02 (Amendment) 2012 (102.3 KB) takes effect.
- 02 Dec 2009
- Notice SFA04-N02 (Amendment) 2009 (88.7 KB) dated 3 July 2009 takes effect.
- 02 Jul 2007
- Notice SFA04-N02 takes effect.
- 01 Mar 2007
- Notice SFA04-N02 (Amendment) 2007 (43.5 KB) dated 28 February 2007 takes effect.
Related to this Notice
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FAQsLast Revised Date: 23 March 2023
FAQs on Exempt Persons
Provides guidance on regulatory requirements that an exempt financial adviser serving up to not more than 30 accredited investors or an exempt corporate finance adviser is expected to comply with, including criteria for exemption, form for lodgement as an exempt person and ongoing regulatory requirements.
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NoticesPublished Date: 08 October 2021
Notice FAA-N25 to Licensed Financial Advisers and Specified Exempt Financial Advisers in relation to Cross-Border Arrangements under the Financial Advisers (Exemption for Cross-Border Arrangements) (Foreign Offices) Regulations 2021 on Prevention of Money Laundering and Countering the Financing of Terrorism
Requirements for licensed financial advisers and specified exempt financial advisers on anti-money laundering and countering the financing of terrorism (“AML/CFT”) in relation to their cross-border arrangements with Foreign Offices (“FOs”) under the Financial Advisers (Exemption for Cross-Border Arrangements) (Foreign Offices) Regulations 2021.
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NoticesPublished Date: 08 October 2021
Notice FAA-N24 to Specified Financial Advisers in relation to Cross-Border Arrangements under the Financial Advisers (Exemption for Cross-Border Arrangements) (Foreign Related Corporations) Regulations 2021 on Prevention of Money Laundering and Countering the Financing of Terrorism
Requirements for licensed financial advisers and specified exempt financial advisers on anti-money laundering and countering the financing of terrorism (“AML/CFT”) in relation to their cross-border arrangements with Foreign Related Corporations (“FRCs”) under the Financial Advisers (Exemption for Cross-Border Arrangements) (Foreign Related Corporations) Regulations 2021.
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NoticesPublished Date: 08 October 2021
Notice SFA 04-N20 to Specified Licence Holders and Specified Exempt Persons in relation to Cross-Border Arrangements under the Securities and Futures (Exemption for Cross-Border Arrangements) (Foreign Offices) Regulations 2021 on Prevention of Money Laundering and Countering the Financing of Terrorism
Requirements for specified capital markets services licensees (“CMSLs”) and specified exempt CMSLs on anti-money laundering and countering the financing of terrorism (“AML/CFT”) in relation to their cross-border arrangements with Foreign Offices (“FOs”) under the Securities and Futures (Exemption for Cross-Border Arrangements) (Foreign Offices) Regulations 2021.
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NoticesPublished Date: 08 October 2021
Notice SFA 04-N19 to Specified Persons in relation to Cross-Border Arrangements under the Securities and Futures (Exemption for Cross-Border Arrangements) (Foreign Related Corporations) Regulations 2021 on Prevention of Money Laundering and Countering the Financing of Terrorism
Requirements for specified capital markets services licensees (“CMSLs”) and specified exempt CMSLs on anti-money laundering and countering the financing of terrorism (“AML/CFT”) in relation to their cross-border arrangements with Foreign Related Corporations (“FRCs”) under the Securities and Futures (Exemption for Cross-Border Arrangements) (Foreign Related Corporations) Regulations 2021.
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CircularsPublished Date: 08 October 2018
CMI 02/2015 Circular to Broker-Dealers on Enhancing Anti-Money Laundering & Countering the Financing of Terrorism Measures and Business Conduct
Circular to Broker-Dealers on Enhancing Anti-Money Laundering & Countering the Financing of Terrorism Measures and Business Conduct
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NoticesLast Revised Date: 05 October 2018
Notice CMG-N01 on Reporting of Suspicious Activities and Incidents of Fraud
When to report suspicious activities and incidents of fraud.
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GuidelinesLast Revised Date: 30 November 2015
Guidelines to Notice SFA 04-N02 on Prevention of Money Laundering and Countering the Financing of Terrorism - Capital Markets Intermediaries
Guidelines for capital markets intermediaries on Notice SFA04-N02 on the prevention of money laundering and countering the financing of terrorism.
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CircularsPublished Date: 28 October 2015
CMI 04/2015 Circular to Corporate Finance Firms on Enhancing Anti-Money Laundering & Countering the Financing of Terrorism Measures and Business Conduct
Circular to Corporate Finance Firms on Enhancing Anti-Money Laundering & Countering the Financing of Terrorism Measures and Business Conduct
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CircularsPublished Date: 28 October 2015
CMI 03/2015 Circular to Fund Management Companies on Enhancing Anti-Money Laundering & Countering the Financing of Terrorism Measures and Business Conduct
Circular to Fund Management Companies on Enhancing Anti-Money Laundering & Countering the Financing of Terrorism Measures and Business Conduct