Guidelines for Regulated Dealers

Guidelines for Regulated Dealers

The Guidelines for Regulated Dealers in the Precious Stones and Precious Metals Dealers Sector on Anti-Money Laundering/Countering the Financing of Terrorism (“Guidelines”) are meant to help regulated dealers understand the regulatory requirements under the Precious Stones and Precious Metals (Prevention of Money Laundering and Terrorism Financing) Act 2019 (“PSPM Act”) and Precious Stones and Precious Metals (Prevention of Money Laundering and Terrorism Financing) Regulations 2019 (“PMLTF Regulations”).

The Guidelines also provide sample forms and checklists¹ to assist regulated dealers in meeting their regulatory obligations. However, regulated dealers remain responsible for ensuring that their Anti-Money Laundering/Countering the Financing of Terrorism (“AML/CFT”) measures are appropriately designed for their business and commensurate with their money laundering/terrorism financing (“ML/TF”) risk exposure.