Louis Ng on Bills to strengthen Singapore’s anti-money laundering regime
The Bills will strengthen the regulation of corporate service providers (CSPs) and increase the transparency of beneficial ownership of corporate entities, said MP Louis Ng. Speaking in Parliament on Tuesday (Jul 2), he also sought clarifications on the Bills. These relate to the duties imposed on CSPs and the duty of CSPs to perform customer due diligence. He also sought clarification on the regulatory breaches under the proposed changes.
The Bills will strengthen the regulation of corporate service providers (CSPs) and increase the transparency of beneficial ownership of corporate entities, said MP Louis Ng. Speaking in Parliament on Tuesday (Jul 2), he also sought clarifications on the Bills. These relate to the duties imposed on CSPs and the duty of CSPs to perform customer due diligence. He also sought clarification on the regulatory breaches under the proposed changes.
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