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Industry Updates
MAS Notice 3001
4.9
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A licensee shall retain copies of all reference documents used to verify the identity of the customer. |
(III) Identification and Verification of Identity of Natural Persons Appointed to Act on the Customer’s Behalf
4.10
4.11
4.12
4.13
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Where the customer appoints one or more natural persons to act on his behalf to undertake relevant business transactions with the licensee, or the customer is not a natural person, a licensee shall -
(a)
(b)
(c) |
identify the natural persons that act or are appointed to act on behalf of the customer;
verify the identity of these persons using reliable, independent sources; and
retain copies of all reference documents used to verify the identity of these persons. |
A licensee shall verify the due authority of such persons to act on behalf of the customer.
A licensee shall verify the due authority of such persons to act by obtaining , including but not limited to the following:
(a)
(b) |
the appropriate documentary evidence that the customer has appointed the persons to act on its behalf, and
the specimen signatures of the persons appointed |
Where the customer is a Singapore government entity, the licensee shall only be required to obtain such information as may be required to confirm that the customer is a Singapore government entity as asserted. |
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