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zeekayandHanzo Dev
5c7d0fa655
Lux Partners Limited is not the entity behind this work. Every place the old name stood — copyright lines, site footers, brand config, legal and compliance text — now names the company that actually holds it. lux.fund is the exception and is not renamed to match: that site belongs to Lux Assets Management LLC, a different company, and it says so. Two kinds of line were left for a person rather than rewritten. A dated news item recording that Lux Partners Limited was established in the Isle of Man is a historical fact, and renaming it would falsify the record. And a sentence asserting that the company is domiciled in the Isle of Man is a claim about a jurisdiction, not a name — an Inc or an LLC is not an Isle of Man company, so swapping the name there would assert something untrue. Co-authored-by: Hanzo Dev <[email protected]>
203 lines
6.3 KiB
Go
203 lines
6.3 KiB
Go
// Copyright 2024-2026 Lux Industries Inc. All rights reserved.
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// Use of this source code is governed by the Apache 2.0
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// license that can be found in the LICENSE file.
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package regulatory
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// Singapore implements the Jurisdiction interface for MAS regulation.
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// Covers the Securities and Futures Act (SFA), Payment Services Act 2019 (PS Act),
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// and MAS AML/CFT notices.
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type Singapore struct{}
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func (s *Singapore) Name() string { return "Singapore" }
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func (s *Singapore) Code() string { return "SG" }
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func (s *Singapore) RegulatoryFramework() string { return "mas" }
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func (s *Singapore) PassportableTo() []string { return nil }
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func (s *Singapore) Requirements() []Requirement {
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return []Requirement{
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{
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ID: "sg-mas-cml",
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Category: "licensing",
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Description: "Capital Markets Services (CMS) licence for dealing in securities",
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Mandatory: true,
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Reference: "Securities and Futures Act 2001 (SFA), s.82",
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},
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{
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ID: "sg-mas-dpt",
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Category: "licensing",
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Description: "Digital Payment Token (DPT) service licence under Payment Services Act 2019",
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Mandatory: false,
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Reference: "Payment Services Act 2019 (PS Act), s.6; MAS Notice PSN02",
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},
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{
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ID: "sg-mas-sfa04n12",
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Category: "aml",
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Description: "AML/CFT measures per MAS Notice SFA 04-N12 for capital markets intermediaries",
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Mandatory: true,
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Reference: "MAS Notice SFA 04-N12",
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},
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{
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ID: "sg-mas-cdd",
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Category: "kyc",
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Description: "Customer Due Diligence: verify identity, beneficial ownership, purpose of relationship",
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Mandatory: true,
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Reference: "MAS Notice SFA 04-N12, Part IV",
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},
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{
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ID: "sg-mas-edd",
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Category: "kyc",
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Description: "Enhanced CDD for higher-risk customers (PEPs, high-risk countries, complex structures)",
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Mandatory: true,
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Reference: "MAS Notice SFA 04-N12, Part V",
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},
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{
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ID: "sg-mas-str",
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Category: "reporting",
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Description: "Suspicious Transaction Report to Suspicious Transaction Reporting Office (STRO)",
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Mandatory: true,
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Reference: "Corruption, Drug Trafficking and Other Serious Crimes Act (CDSA), s.39",
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},
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{
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ID: "sg-mas-ctr",
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Category: "reporting",
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Description: "Cash Transaction Report for cash transactions SGD 20,000+ to STRO",
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Mandatory: true,
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Reference: "MAS Notice SFA 04-N12, Part IX",
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},
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{
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ID: "sg-mas-fatca-crs",
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Category: "reporting",
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Description: "FATCA/CRS reporting to IRAS (Inland Revenue Authority of Singapore)",
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Mandatory: true,
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Reference: "Income Tax Act s.105M; Income Tax (International Tax Compliance Agreements) Regulations",
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},
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{
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ID: "sg-mas-risk-assessment",
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Category: "aml",
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Description: "Enterprise-wide risk assessment for ML/TF risks",
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Mandatory: true,
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Reference: "MAS Notice SFA 04-N12, Part III",
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},
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{
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ID: "sg-mas-fit-proper",
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Category: "licensing",
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Description: "Fit and proper criteria for substantial shareholders and key officers",
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Mandatory: true,
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Reference: "MAS Guidelines on Fit and Proper Criteria [FSG-G01]",
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},
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}
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}
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func (s *Singapore) ValidateApplication(app *ApplicationData) []Violation {
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var violations []Violation
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if app.GivenName == "" {
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violations = append(violations, Violation{
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RequirementID: "sg-mas-cdd",
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Field: "given_name",
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Message: "Full name is required for MAS CDD",
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Severity: "error",
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})
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}
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if app.FamilyName == "" {
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violations = append(violations, Violation{
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RequirementID: "sg-mas-cdd",
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Field: "family_name",
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Message: "Family name is required for MAS CDD",
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Severity: "error",
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})
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}
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if app.DateOfBirth == "" {
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violations = append(violations, Violation{
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RequirementID: "sg-mas-cdd",
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Field: "date_of_birth",
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Message: "Date of birth is required for MAS CDD",
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Severity: "error",
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})
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}
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// NRIC/FIN for Singapore residents
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if (app.Country == "SG" || app.CountryOfTax == "SG") && app.TaxID == "" {
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violations = append(violations, Violation{
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RequirementID: "sg-mas-cdd",
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Field: "tax_id",
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Message: "NRIC or FIN is required for Singapore residents",
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Severity: "error",
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})
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}
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if len(app.Street) == 0 || app.Street[0] == "" {
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violations = append(violations, Violation{
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RequirementID: "sg-mas-cdd",
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Field: "street",
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Message: "Residential address is required for MAS CDD",
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Severity: "error",
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})
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}
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if app.City == "" {
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violations = append(violations, Violation{
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RequirementID: "sg-mas-cdd",
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Field: "city",
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Message: "City is required",
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Severity: "error",
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})
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}
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if app.PostalCode == "" {
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violations = append(violations, Violation{
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RequirementID: "sg-mas-cdd",
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Field: "postal_code",
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Message: "Postal code is required",
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Severity: "error",
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})
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}
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if app.Email == "" {
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violations = append(violations, Violation{
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RequirementID: "sg-mas-cdd",
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Field: "email",
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Message: "Email address is required",
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Severity: "error",
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})
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}
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if app.FundingSource == "" {
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violations = append(violations, Violation{
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RequirementID: "sg-mas-cdd",
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Field: "funding_source",
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Message: "Source of funds is required under MAS CDD",
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Severity: "error",
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})
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}
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if app.IsPoliticallyExposed == nil {
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violations = append(violations, Violation{
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RequirementID: "sg-mas-edd",
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Field: "is_politically_exposed",
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Message: "PEP status declaration is required under MAS Notice SFA 04-N12",
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Severity: "error",
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})
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}
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if app.IsPoliticallyExposed != nil && *app.IsPoliticallyExposed {
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violations = append(violations, Violation{
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RequirementID: "sg-mas-edd",
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Field: "is_politically_exposed",
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Message: "Enhanced CDD required: customer is a PEP under MAS Notice SFA 04-N12 Part V",
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Severity: "warning",
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})
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}
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return violations
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}
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func (s *Singapore) TransactionLimits() *Limits {
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return &Limits{
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SingleTransactionMax: 200_000, // SGD 200k
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DailyMax: 1_000_000, // SGD 1M
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MonthlyMax: 5_000_000,
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CTRThreshold: 20_000, // SGD 20k cash reporting
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TravelRuleMin: 1_500, // SGD 1.5k FATF travel rule
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Currency: "SGD",
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}
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}
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