§ 18 — Keeping of records

18.—(1) A regulated dealer must keep the following documents and information for the prescribed period:(a)

a record of every designated transaction (whether or not completed) and every other transaction for which the customer due diligence measures mentioned in section 16 must be performed, containing the prescribed information on that transaction;

(b)

a record of all information relating to a customer which is obtained through the customer due diligence measures performed under section 16;

(c)

a copy of each supporting document relied on in support of any information referred to in paragraph (b);

(d)

any other document and information that may be prescribed.

(1A) A regulated dealer who becomes a former regulated dealer on or after the commencement date must continue to keep each of the documents and information mentioned in subsection (1), that were required to be kept by the regulated dealer, until the end of the prescribed period applicable to each of those documents and information.[Act 6 of 2024 wef 01/05/2024]

(2) For the purposes of subsection (1), different periods may be prescribed for different regulated dealers or classes of regulated dealers, different types of designated transactions or different documents and information.

(3) A regulated dealer or former regulated dealer must keep the documents and information mentioned in subsection (1) in the form prescribed.[Act 6 of 2024 wef 01/05/2024]

(4) A regulated dealer or former regulated dealer must make the documents and information mentioned in subsection (1) available upon request to the Registrar in the manner prescribed.[Act 6 of 2024 wef 01/05/2024]

(5) A regulated dealer or former regulated dealer who contravenes subsection (1), (3) or (4) (read with subsection (1A) where applicable) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $100,000.[Act 6 of 2024 wef 01/05/2024]

(6) In this section —“commencement date” means the date of commencement of section 13 of the Prevention of Proliferation Financing and Other Matters Act 2024;

“former regulated dealer” means a regulated dealer who has ceased to carry on any business of regulated dealing or business as an intermediary in Singapore.[Act 6 of 2024 wef 01/05/2024]

—(1) A regulated dealer must keep the following documents and information for the prescribed period:(a)

a record of every designated transaction (whether or not completed) and every other transaction for which the customer due diligence measures mentioned in section 16 must be performed, containing the prescribed information on that transaction;

(b)

a record of all information relating to a customer which is obtained through the customer due diligence measures performed under section 16;

(c)

a copy of each supporting document relied on in support of any information referred to in paragraph (b);

(d)

any other document and information that may be prescribed.

(1A) A regulated dealer who becomes a former regulated dealer on or after the commencement date must continue to keep each of the documents and information mentioned in subsection (1), that were required to be kept by the regulated dealer, until the end of the prescribed period applicable to each of those documents and information.[Act 6 of 2024 wef 01/05/2024]

(2) For the purposes of subsection (1), different periods may be prescribed for different regulated dealers or classes of regulated dealers, different types of designated transactions or different documents and information.

(3) A regulated dealer or former regulated dealer must keep the documents and information mentioned in subsection (1) in the form prescribed.[Act 6 of 2024 wef 01/05/2024]

(4) A regulated dealer or former regulated dealer must make the documents and information mentioned in subsection (1) available upon request to the Registrar in the manner prescribed.[Act 6 of 2024 wef 01/05/2024]

(5) A regulated dealer or former regulated dealer who contravenes subsection (1), (3) or (4) (read with subsection (1A) where applicable) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $100,000.[Act 6 of 2024 wef 01/05/2024]

(6) In this section —“commencement date” means the date of commencement of section 13 of the Prevention of Proliferation Financing and Other Matters Act 2024;

“former regulated dealer” means a regulated dealer who has ceased to carry on any business of regulated dealing or business as an intermediary in Singapore.[Act 6 of 2024 wef 01/05/2024]