The Guidelines for Registered Filing Agents (RFA) were first issued by ACRA on 8 Jun 2015 to help RFAs fulfil their obligations under the enhanced regulatory regime for corporate service providers, which was introduced in May 2015. In developing the Guidelines, feedback was sought from RFAs as well as professional bodies including the Chartered Secretaries Institute of Singapore, Institute of Singapore Chartered Accountants, The Law Society of Singapore, Association of International Accountants (Singapore Branch) and Institute of Company Accountants Singapore.
The Guidelines have now been updated to better guide RFAs in complying with regulatory requirements. The key updates to Version 2.3 of the Guidelines include:
- Inclusion of information on new training mandatory requirements in paragraph 2.2.3;
- Update on how RFAs can file suspicious transaction reports via STRO Online Notices and Reporting Platform(SONAR) in paragraph 4.13.5;
- Update on ACRA’s expectation on when RFAs should request for notarised copies of identification documents from customers and beneficial owners to mitigate situations of higher risks in paragraph 4.5.3 and 4.6.3;
- Update of Customer Acceptance Form in Annex C to improve consistency with the requirements of EP200 so that RFAs that are also Public Accountants may consider adopting the same form for use; and
- Various edits and formatting to enhance readability throughout.
Please click here (PDF, 1.44MB) to download the updated guidelines.