Essentials of FAA-G04 and FAA-N06 (AML/CFT)
This course is approved by the Institute of Banking and Finance (IBF) for FA-CPD training hours accreditation, and attendee may also qualify for the IBF-FTS funding.
Financial advisers are critical for their client’s finances. As a result, it is necessary for them to have rules and regulations to govern them. The Monetary Authority of Singapore (MAS) recognized the need for such a notice and implemented the Financial Advisers Act (FAA). The FAA-G04 section under the act is aimed at financial advisers and governs their conduct.
Another crucial section under the FAA is the FAA-N06, which aims to combat money laundering and financing terrorism. The Anti-Money Laundering (AML) and Countering The Financing of Terrorism (CFT) acts note certain measures that financial advisers can take in order to prevent the misuse of client funds. Under the AML/CFT measures, important points to gauge are - Customer Due Diligence, Simplified Customer Due Diligence and Enhanced Customer Due Diligence. All of the above is covered under the MAS notice FAA-N06.
Since the AML/CFT notices were sent, new legislation and regulations have been put in place to make sure that illicit funds are detected and deterred. Our program helps participants under the basics of each act thus allowing them to understand the notices and new regulations that have been passed.
- Grasp the prevalence of the guidelines.
- Understanding the rules of conduct for financial advisers and their representatives so as to help foster professional standards.
- Learn the rationale behind the AML and CFT measures
- Discern the process of Money Laundering and Financing of Terrorism
- Learn the basic approach to AML/CFT measures
- Hone knowledge of paragraphs 4, 6, 7 and 8 of the MAS NOTICE FAA-N06
Program Facilitators: Mr. Lim Chung Wei and Mr. Ronald Wong
4-Hours Classroom Training
1-Hour (1-hour, open book online MCQ)
FA-CPD Hours Accreditation:
Upon completion of the program and passing the online assessment, attendee will be awarded the designated FA-CPD (Rules & Regulations) hours.
Contact us to enquire for program schedule and venue.