Usha Chandradas on Bills to strengthen Singapore’s anti-money laundering regime
In Parliament on Tuesday (Jul 2), NMP Usha Chandradas voiced support for the Corporate Service Providers Bill, which requires corporate service providers and qualified individuals who provide or supervise the provision of corporate services to be regulated. She noted that the Bill imposes on them a duty to detect or prevent money laundering, proliferation financing and terrorism financing. She also sought clarifications on the Bill, including how the proposed changes will apply to law firms, especially when they provide tax-related legal services. She also wanted to know if there are plans to specifically include the art market within the regulatory framework.
In Parliament on Tuesday (Jul 2), NMP Usha Chandradas voiced support for the Corporate Service Providers Bill, which requires corporate service providers and qualified individuals who provide or supervise the provision of corporate services to be regulated. She noted that the Bill imposes on them a duty to detect or prevent money laundering, proliferation financing and terrorism financing. She also sought clarifications on the Bill, including how the proposed changes will apply to law firms, especially when they provide tax-related legal services. She also wanted to know if there are plans to specifically include the art market within the regulatory framework.
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