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Anti-Money Laundering / Countering the Financing of Terrorism Division
Notices from the Registrar

Compliance Toolkit for Precious Stones and Precious Metals Dealers

30 September 2022

Download the Compliance Toolkit to understand the requirements and obligations of a regulated dealer under the PSPM Act.

Dear Regulated Dealer,

COMPLIANCE TOOLKIT FOR PRECIOUS STONES AND PRECIOUS METALS DEALERS (“PSMD”)

This Compliance Toolkit aims to guide and facilitate PSMD’s compliance with the various requirements under the Precious Stones and Precious Metals (Prevention of Money Laundering, Terrorism Financing and Proliferation Financing) Act 2019 (“PSPM Act”) and the Precious Stones and Precious Metals (Prevention of Money Laundering and Terrorism Financing) Regulations 2020 (“PMLTF Regulations”).

The Compliance Toolkit serves as a quick guide relating to applications, notifications, regulatory submissions and compliance.

Download and open the Compliance Toolkit with a PDF reader on desktop to open the thumbnails.

Table: Summary of the Compliance Toolkit

S/N

Information

What To Expect

1

Section A: Applications for approval from the Registrar of Regulated Dealers

This section provides information on how to register and renew your registration with the Registrar.

2

Section B: Notifications to be submitted to the Registrar of Regulated Dealers

Registered dealers must notify the Registrar when there are changes to your (i) particulars and circumstances, (ii) place of business and (iii) class of registration.

This section provides information on the types of notifications to submit and how to notify the Registrar.

3

Section C: Regulatory submissions to the Registrar of Regulated Dealers

Regulated dealers are required to submit (i) semi-annual returns (“SAR”), (ii) risk assessment and (iii) internal policies, procedures and controls (“IPPC”).

This section provides information on the submission timeline and how to submit.

4

Section D: Regulatory compliance

In the course of business, regulated dealers are required to comply with various regulatory requirements to prevent money laundering and terrorism financing in the PSMD sector.

This section provides information on the regulatory requirements, submission timeline and how to submit.

5

Section E: Useful user guides

These user guides provide you with a step-by-step guide on the relevant portals such as GoBusiness Licencing, myPal and STRO Online Notices And Reporting platform ("SONAR") portals.

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