Click here to view the complete list of registered dealers1 in Singapore.
List of registered dealers with registration suspended
Section 11(5) of the Precious Stones and Precious Metals (Prevention of Money Laundering and Terrorism Financing) Act 2019 (“PSPM Act”) provides that suspension of registration does not affect the enforcement by any person of any right or claim against the registered dealer or the enforcement by the registered dealer of any right or claim against any person.
Report possible unregistered dealers to the Anti-Money Laundering/Countering the Financing of Terrorism Division (“ACD”) here.
What is Covered Under the Regulations?
Registered dealers are regulated by the Registrar of Regulated Dealers (“the Registrar”) for anti-money laundering and countering the financing of terrorism (“AML/CFT”) purposes in their business of regulated dealing2 or business as an intermediary for regulated dealing under the PSPM Act.
Registered dealers are to ensure that their websites, representations and publicity materials do not cause the public to misconstrue that the Registrar is regulating them beyond AML/CFT matters. Please visit here for information on the use of public statements relating to the registration as a regulated dealer and the Ministry of Law logo.
|1 "Registered dealer" means a regulated dealer who is registered under section 7 of the PSPM Act. The list of registered dealers will not contain the following persons who are exempted from registration under the PSPM Act:
• A pawnbroker as defined under Section 3 of the Pawnbrokers Act 2015.
• Any person licensed, approved, registered or regulated by the Monetary Authority of Singapore under any written law.
• A "foreign dealer"3 which only carries on business in Singapore for not more than a total of 90 days in a year.
"Foreign dealers" are subject to all other transaction-based requirements under the PSPM Act, which include conducting customer due diligence, keeping records, and filing of Cash Transaction Reports (CTR) and Suspicious Transaction Reports (STR).
2 "Regulated dealing" means doing any of the following:
(a) manufacturing any precious stone, precious metal or precious product;
(b) importing or possessing for sale any precious stone, precious metal or precious product;
(c) selling or offering for sale any precious stone, precious metal or precious product;
(d) selling or redeeming asset-backed tokens;
(e) purchasing any precious stone, precious metal or precious product for the purposes of resale.
3 A "foreign dealer" is a regulated dealer that:
• is registered or incorporated outside Singapore, or is habitually resident outside Singapore;
• does not have a permanent establishment, a place of management, or a branch in Singapore at which they carry on the business of regulated dealing or business as an intermediary for regulated dealing; and
• only carries on business in Singapore for not more than a total of 90 days in a year.