PAYMENT SERVICES ACT
HM has collected a library of articles and helpful links on various regulatory topics. For assistance with applying for a license or ongoing compliance, please email us at [email protected].
AMENDMENT ACT - CRITICAL DOCUMENTS AND DEADLINES
BEGINNER'S GUIDE
LAWS
REGULATIONS
CONSULTATION PAPERS & RESPONSES (MAS)
MAS NOTICES
MAS GUIDELINES
FORMS
OTHERS (MAS)
OTHERS (NOT MAS)
ARTICLES
AMENDMENT ACT - CRITICAL DOCUMENTS AND DEADLINES
What are the newly regulated activities?
Specimen Form for Notification (Due by 3 May 2024)
Form 1 – Application for Payment Service Provider License (Due by 3 October 2024)
External Auditor Attestation Form (Due by 3 January 2025)
Summary of expanded scope of the Payment Services Act (published by Monetary Authority of Singapore)
REGULATIONS, RESPONSE TO MAS CONSULTATIONS, AND GUIDELINES RELEASED ON 2 APRIL 2024
Payment Services (Amendment) Act 2021 (Saving and Transitional Provisions) Regulations 2024
Guidelines on Consumer Protection Measures by DPT Service Providers (2 April 2024)
BEGINNER'S GUIDE
Guide to the Payment Services Act 2019 (Monetary Authority of Singapore) (June 2020)
Homework before you apply for a license under the Payment Services Act (HM)
Form 1 – Application for a Payment Service Provider (28 January 2020)
LAWS
The Singapore Payment Services Act
Payment Services Act 2019 (Commencement) Notification 2019
REGULATIONS
Payment Services Regulations 2019 (5 December 2019)
Payment Services (Saving and Transitional Provisions) Regulations 2019 (5 December 2019)
Payment Services (Exemption for Specified Period) Regulations 2019 (5 December 2019)
Payment Services (Composition of Offences) Regulations 2019 (5 December 2019)
CONSULTATION PAPERS & RESPONSES (MAS)
Consultation Paper on Proposed Amendments to the Payment Services Regulations (2 April 2024)
Consultation Paper on the New Omnibus Act for the Financial Sector (21 July 2020)
Consultation/Response on Proposed Payment Services Regulations (including MAS Response to Feedback) (5 December 2019)
MAS NOTICES
PSN02 Prevention of Money Laundering and Countering the Financing of Terrorism – Digital Payment Token Service (2 April 2024)
PSN03 Notice on reporting of suspicious activities and incidents of fraud (5 December 2019)
PSN04 Notice on Submission of Regulatory Returns (2 April 2024)
PSN04A Notice on Submission of Statement of Transactions and Profit/Loss (28 January 2020)
FSM-N13 Technology Risk Management (9 May 2024)
FSM-N14 Cyber Hygiene (9 May 2024)
PSN07 Notice on Conduct (2 April 2024)
PSN08 Notice on Disclosures and Communications (2 April 2024)
PSN09 Notice on Specified Matters and Forms (5 December 2019)
FSM-N01 Notice on Submission of Returns by Notified Entities (31 May 2023)
MAS GUIDELINES
Guidelines on Consumer Protection Measures by DPT Service Providers [PS-G03] (2 April 2024)
Guidelines on Business Continuity Management (6 June 2022)
Guidelines on Provision of Digital Payment Token Services to the Public (17 January 2022)
Guidelines on Individual Accountability and Conduct (10 September 2020)
Guidelines on Fit and Proper Criteria (1 July 2021)
Guidelines on Licensing for Payment Service Providers (18 December 2019)
Guidelines for E-Payments User Protections (5 December 2019)
Guidelines on Outsourcing (5 October 2018)
Guidelines on Risk Management Practices – Internal Controls (1 July 2014)
Guidelines on Risk Management Practices – Technology Risk – (18 January 2021)
Guidelines on Risk Management Practices – Liquidity Risk – (1 March 2013)
Guidelines on Risk Management Practices – Board and Senior Management (1 March 2013)
Guidelines on Risk Management Practices – Operational Risk (1 March 2013)
Guidelines on Risk Management Practices – Market Risk (1 March 2013)
Guidelines on Risk Management Practices – Objectives and Scope (1 March 2013)
FORMS
MAS Page of Payment Services Act Forms and Templates
Form 1 – Application for a Payment Service Provider (28 January 2020)
Form 3A – Application for Approval of 20% Controller of a Payment Service Provider (28 January 2020)
Form 4 – Form and Content of Auditor’s Report (28 January 2020)
Form 7 – Notice of Changes for a Payment Service Provider (28 January 2020)
Form 8 – Notice of Cessation of Business of a Payment Service Provider (28 January 2020)
OTHERS (MAS)
MAS Issues Guidelines to Discourage Cryptocurrency Trading by General Public (17 January 2022)
Explanatory Brief for Payment Services (Amendment) Bill (November 2020)
Guide to the Payment Services Act 2019 (June 2020)
Payment Services Act Comes Into Force (28 January 2020)
General Guidance on Application for a Payment Services License (including cost information)
General Information on Major Payment Institution Licenses
General Information on Standard Payment Institution Licenses
General Information on Money-Changing Licenses
A Guide to Digital Token Offerings (23 December 2019)
Payment Regulatory Evaluation Program (PREP) (MAS and the Singapore Academy of Law)
OTHERS (NOT MAS)
FATF Report to G20 on So-called Stablecoins (Financial Action Task Force) (7 July 2020)
IRAS E-Tax Guide – Income Tax Treatment of Digital Tokens (17 April 2020)
IRAS E-Tax Guide – GST: Digital Payment Tokens (IRAS) (19 November 2019)
The (Somewhat) Confusing World of Cryptocurrencies (The Singapore Law Gazette)
Distributed Ledger Technology and Digital Assets: Policy and Regulatory Challenges in Asia (ADB)
FATF Guidance on AML Regulations Poses Significant Challenges to Crypto Industry (Debevoise)
New Digital Bank Licenses in Singapore (Linklaters)
Issues, Risks and Regulatory Considerations Relating to Crypto-Asset Trading Platforms (IOSCO)
MAS Second Reading Speech on Payment Services Bill (Rajah and Tann)
ARTICLES
Setting up a perpetuals exchange in Singapore: what you need to know (Reed Smith) (July 2021)
Singapore Amends Payment Services Act (Duane Morris) (January 2021)
Singapore’s proposed Omnibus Act for the financial services sector (Reed Smith) (28 July 2020)
Singapore Fintech Updates and The Payment Services Act (Morgan Lewis Stamford) (May 2020)
Regulatory update on GST treatment of Digital Payment Tokens (CNP Law) (May 2020)
Payment token derivatives: Singapore’s regulatory regime goes live (Linklaters) (21 May 2020)
Expanding Your Crypto Business in Asia: What You Need to Know! (PWC) (April 2020)
Singapore Payment Services Act: Impact on the payments industry (Norton Rose Fulbright) (April 2020)
Non-Face-to-Face KYC Explained (Holland & Marie and Maven Diligence) (31 March 2020)
Payment Services Act: Singapore’s fintech revolution (Stephenson Harwood) (February 2020)
The Payment Services Act of Singapore (Bird & Bird) (3 February 2020)
Commencement of Payment Services Act (Eversheds Harry Elias) (30 January 2020)
An Overview of the Payment Services Licensing Regime (Allen & Overy) (28 January 2020)
Payment Services Act – a guide (Reed Smith) (27 January 2020)
Payment Services Act: What you need to know (ZICO law) (22 January 2020)
MAS consultations on the regulation of digital payment tokens (Allen & Overy) (20 January 2020)
Off to the races: The Commencement of the Payment Services Act (Hogan Lovells) (16 January 2020)
Can you outsource compliance to an unaffiliated third party? (Holland & Marie) (13 January 2020)
A key deadline for stored value facilities is 13 January 2020 (Holland & Marie) (5 January 2020)
MAS issues Guidelines and Specimen Forms on Licensing for Payment Service Providers (Rajah & Tann) (December 2019)
New e-Tax Guide for GST on Digital Payment Tokens (Deloitte) (4 December 2019)
Navigating the Payment Services Act (Wong Partnership) (1 October 2019)
Navigating the Payment Services Act (slides) (Wong Partnership)
Singapore Regulations Applicable to Digital Asset Custody Businesses (Holland & Marie and CNP Law)
MAS Consultation Papers on Proposed Payment Services Notices and Guidelines (PWC)
Payment Services Act – Draft AML Notices Published for Consultation (Linklaters)
Transitions to The Payment Services Act (Eversheds-Harry Elias)
MAS Consults on Proposed Payment Services Notices and Guidelines (Shook Lin & Bok)
MAS Consults on Draft AML/CFT Notices for Payment Services Providers (Shook Lin & Bok)
MAS Consults on Proposed Payment Services Regulations (Baker & McKenzie)
The Payment Services Act and how it affects Fintech in Singapore (JDSupra)
Payment Services Act: Does Your Fintech Business Need a License? (Singapore Legal Advice)
Singapore Parliament Passes Payment Services Bill (Clifford Chance)
Update: Payment Services Bill introduced in Parliament (Baker & McKenzie)
Blockchain & Cryptocurrency Regulation 2019 – Singapore (GLI)
Commencement of Payment Services Act and regulations, notices ( Baker McKenzie Wong & Leow)
Menu
Menu
Actionable Strategy for a Grey Environment | © 2023 HM
*HM is not a law firm and neither it nor its personnel may act as an advocate or solicitor for purposes of the Singapore Legal Profession Act. HM is a Singapore-headquartered management consulting firm.
HM operates under three brands: HM Strategy, HM Compliance and HM Counsel. HM Compliance offers Singapore compliance services, including outsourced compliance, MAS licensing services, ad hoc advisory and consulting services, corporate governance advisory, ESG consulting, training and internal audit. HM launched as a Singapore compliance consultancy in 2018. HM Strategy offers regulatory and management strategy advice to Boards of Directors and senior management as well as risk management consulting. HM Counsel offers in-house counsel services.