Louis Ng on Corporate Registers (Miscellaneous Amendments) Bill
The Corporate Registers (Miscellaneous Amendments) Bill will strengthen Singapore's protection against money laundering and the illicit movement of funds, which is key to Singapore's role as a respected international financial hub, said MP Louis Ng. Speaking in Parliament on Monday (Jan 10), he asked why directors with executive control and CEOs had to be listed in the register if no registrable controller is identified, especially if the information is already filed with the Accounting and Corporate Regulatory Authority. He also sought clarity on the definition of nominee shareholders and how the Government intends to support small businesses in complying with the new regulations.
The Corporate Registers (Miscellaneous Amendments) Bill will strengthen Singapore's protection against money laundering and the illicit movement of funds, which is key to Singapore's role as a respected international financial hub, said MP Louis Ng. Speaking in Parliament on Monday (Jan 10), he asked why directors with executive control and CEOs had to be listed in the register if no registrable controller is identified, especially if the information is already filed with the Accounting and Corporate Regulatory Authority. He also sought clarity on the definition of nominee shareholders and how the Government intends to support small businesses in complying with the new regulations.
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