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Will the Registrar automatically cancel my registration if any of the circumstances in Regulation 21A of the Precious Stones and Precious Metals (Prevention of Money Laundering, Terrorism Financing and Proliferation Financing) Regulations exist?

Updated by MLAW

The registration might not be automatically cancelled even if the circumstances in Regulation 21A exist.

This is because the Registrar may consider the relevant facts, events or circumstances of each case when determining whether a dealer is carrying out regulated dealing.

This includes the reasons why and how the circumstances under Regulation 21A have come about before making a determination.

Topics:

Precious Stones and Precious Metals DealersRegulatory Regime - Guidance

Related questions

Who needs to register as a regulated dealer?

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I am considering registering as a Class A dealer, but I have concerns about potential price fluctuations and future business changes. What happens if I register as a Class A dealer now and my product prices increase due to future market changes or if I want to deal in items priced at S$2,000 or more in the future? Do I need to apply for a new registration under Class B?

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I am a foreign incorporated business/ company/ individual. Do I need to register (e.g. I am the supplier of precious stones and precious metals to a regulated dealer in Singapore. I do not carry out sales in Singapore)?

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Will there be training to help me comply with the regulatory requirements?

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