| Unregistered dealing |
Sec 6(2) |
Acting as or holding out to be a regulated dealer without registration |
Fine not exceeding $75,000 or to imprisonment for a term not exceeding 3 years or to both, and in the case of a continuing offence, to a further fine not exceeding $7,500 for every day or part of a day during which the offence continues after conviction |
| Regulatory breach |
Sec 10 |
Regulatory breaches such as failure to comply with any condition of registration |
Cancel registration, or suspend the registration for a period not exceeding 6 months, and/or financial penalty not exceeding $100,000 |
| Customer due diligence (“CDD”), enhanced customer due diligence (“ECDD”) and ongoing monitoring |
Sec 16(6) |
Non-compliance with CDD requirements |
Fine not exceeding $100,000 |
| Cash transaction report (“CTR”) |
Sec 17(4) |
Non-compliance with CTR requirements |
Fine not exceeding $20,000 or to imprisonment for a term not exceeding 2 years or to both |
| Record keeping |
Sec 18(5) |
Contravention of record keeping requirements |
Fine not exceeding $100,000 |
| Risk assessment and internal policies, procedures and controls (“IPPC”) |
Sec 19(3) |
Contravention of risk assessment and IPPC requirements |
Fine not exceeding $100,000 |
| Sanctions |
Sec 20(2) |
Contravention of measures related to targeted financial sanctions |
Fine not exceeding $100,000 |
| Suspicious transaction report (“STR”) |
Sec 21(3) |
Non-compliance with STR requirements |
Fine not exceeding $20,000 |
| Written directions |
Sec 22(5) |
Non-compliance with Registrar’s written directions |
Fine not exceeding $20,000 |
| Providing false information |
Sec 27 |
Provision of false information to Registrar or authorised officer |
Fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both |
| Obstructing investigation |
Sec 28 |
Obstruction of investigation |
Fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both |
