Singapore legislation
Regulation 6
Regulation 6
Identification and verification of identity of clients and agents
Subregulation 1
For the purposes of rule 5(1)(a) but subject to rule 12, an accounting entity or individual practitioner of the accounting entity must establish the identity of each client and each of the client’s agents.
Subregulation 2
For the purposes of paragraph (1), the accounting entity or individual practitioner must obtain and record at least the following information of the client and the client’s agent, if any:
full name, including any alias;
the identity card number, birth certificate number or passport number (in the case of an individual), or the incorporation number or registration number (in the case of a client that is a body corporate or unincorporate);
existing residential address or address of its place of business or registered office (as the case may be) and telephone number;
the date of birth, incorporation or registration, as the case may be;
the nationality or place of incorporation or registration, as the case may be.
Subregulation 3
Where the client is a company or foreign company, the accounting entity or individual practitioner must also establish and record the identities of all the directors of the company or foreign company.
Subregulation 4
Where the client is a sole proprietor, partnership, limited liability partnership or limited partnership, the accounting entity or individual practitioner must also establish and record the identities of the sole proprietor and partners.
Subregulation 5
Where the client is a body corporate or unincorporate other than a company, limited liability partnership or limited partnership, the accounting entity or individual practitioner must also establish and record the identities of all the persons having executive authority in that body.
Subregulation 6
Subject to rule 8, the accounting entity or individual practitioner must, before the accounting entity establishes a business relationship with the client —
verify the identity of the client and the client’s agent (if any) as well as the persons referred to in paragraph (3), (4) or (5), using reliable and independent sources;
verify the authority of a client’s agent (if any) to act on behalf of the client; and
retain a copy of all documents used in verifying the matters referred to in sub‑paragraphs (a) and (b).