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← Financial Services and Markets Act 2022

Financial Services and Markets Act 2022 s 143

s 143 Place of business of licensee

143.—(1) A licensee must not carry on a business of providing any type of digital token service unless the licensee has a permanent place of business. (2) A licensee must appoint at least one person to be present, on such days and at such hours as the Authority may specify by written notice, at the licensee’s permanent place of business to respond to any queries related to anti‑money laundering or countering the financing of terrorism, or complaints from any digital token service user that uses any digital token service provided by the licensee or is a customer of the licensee. (3) A licensee must keep, or cause to be kept, at the licensee’s permanent place of business, books of all the licensee’s transactions in relation to any digital token service provided by the licensee. (4) A licensee must notify the Authority of any change in the address of any of the following places within 7 days after the date of that change:(a) the licensee’s permanent place of business or registered office; (b) every other place of business of the licensee. (5) A licensee that contravenes subsection (1), (2) or (3) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $100,000 and, in the case of a continuing offence, to a further fine not exceeding $10,000 for every day or part of a day during which the offence continues after conviction. (6) A licensee that contravenes subsection (4) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $2,000.

Read this section in the full act → · Open Subdivision (2) →

Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. Read the official text ↗

Source: Singapore Statutes Online (Attorney-General's Chambers), © Government of Singapore.

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