1、擴大Capital Markets Products類型範圍
在share股權、debenture債權、CIS集合投資基礎上增加了信託和衍生工具合約。
2.3.3 a unit in a business trust, where it confers or represents ownership interest in the trust property of a business trust;
2.3.3商業信託中的單位，它賦予或代表商業信託的信託財產的所有權權益;
2.3.4 a securities-based derivatives contract, which includes any derivatives contract of which, the underlying thing is a share, debenture or unit in a business trust; or
2.3.4以證券為基礎的衍生工具合約，其中包括任何衍生工具合約，其相關資產為商業信託的股份，債權證或單位。
2、Money laundering and financing of terrorism concerns
反洗錢和資助恐怖主義問題
這是比較大的一個變化，重點強調了反洗錢和打擊恐怖主義融資。
3.1 MAS emphasises that the relevant MAS Notice on Prevention of Money Laundering and Countering the Financing of Terrorism (「AML/CFT requirements」) will apply if the person is deemed to be an intermediary conducting one or more of the regulated activities identified in paragraphs 2.8 – 2.11 and is a:
3.1 MAS強調，MAS關於防止洗錢和打擊恐怖主義融資的相關通知（「AML / CFT要求」）將如果該人被視為進行第2.8至2.11段所述的一項或多項受規管活動的中間人，則適用於：
3.1.1. holder of a capital markets services licence under the SFA;
3.1.1 根據SFA持有資本市場服務許可證;
3.1.2 fund management company35 registered under paragraph 5(1)(i) of the Second Schedule to the Securities and Futures (Licensing and Conduct of Business) Regulations (Rg. 10) (「SF(LCB)R」);
3.1.2 根據「證券及期貨（牌照及商業行為）規例」（第10號）（「SF（LCB）R」）附表2第5（1）（i）段註冊的基金管理公司;
3.1.3 person exempted under paragraph(s) 3(1)(d), 3A(1)(d) and/or 7(1)(b) of the Second Schedule to the SF(LCB)R from the requirement to hold a capital markets services licence;
3.1.3 根據SF（LCB）R的要求，根據SF（LCB）R附表2第3（1）（d），3A（1）（d）和/或7（1）（b）段獲豁免的人持有資本市場服務許可證;
3.1.4 licensed financial adviser under the FAA;
3.1.4 FAA下的持牌財務顧問;
3.1.5 registered insurance broker which is exempt under section 23(1)(c) of the FAA from holding a financial adviser’s licence to act as a financial adviser in Singapore in respect of any financial advisory service; or
3.1.5 根據FAA第23（1）（c）條獲豁免的註冊保險經紀人持有財務顧問牌照，以就任何財務顧問服務在新加坡擔任財務顧問36;或者
3.1.6 person exempt under section 23(1)(f) of the FAA read with regulation 27(1)(d) of the Financial Advisers Regulations (Rg. 2) from holding a financial adviser’s licence to act as a financial adviser in Singapore in respect of any financial advisory service.
3.1.6 根據「財務顧問條例」（第2條）第27（1）（d）條的規定，根據「財務顧問條例」第23（1）（f）條獲豁免持有財務顧問執照以擔任財務顧問新加坡有關任何財務諮詢服務。
3.2 Applicable AML/CFT requirements on such persons broadly include the following:
3.2 對此類人員適用的反洗錢/打擊資助恐怖主義要求大致包括以下內容：
3.2.1 take appropriate steps to identify, assess and understand their money laundering and terrorism financing (ML/TF) risks;
3.2.1採取適當步驟，以識別，評估和了解他們的洗錢和恐怖主義融資（ML / TF）風險;
3.2.2 develop and implement policies, procedures and controls – including those in relation to the conduct of customer due diligence and transaction monitoring, screening, reporting suspicious transactions and record keeping – in accordance with the relevant MAS Notices, to enable them to effectively manage and mitigate the risks that have been identified;
3.2.2制定和實施政策，程序和控制 - 包括與客戶盡職調查和交易監控，篩選，報告可疑交易和記錄保存相關的政策，程序和控制 - 根據相關的MAS通知，使其能夠有效管理並減輕已發現的風險;
3.2.3 perform enhanced measures where higher ML/TF risks are identified, to effectively manage and mitigate those higher risks; and
3.2.3在確定更高ML / TF風險的情況下執行增強措施，以有效管理和減輕這些更高風險;和
3.2.4 monitor the implementation of those policies, procedures and controls, and enhance them if necessary;
3.2.4監督這些政策，程序和控制的實施，並在必要時予以加強;
3.3 Digital tokens that perform functions which may not be within MAS』 regulatory purview may nonetheless be subject to other legislation for combating ML/TF. MAS would like to highlight in particular the following which all persons would have to abide by:
3.3執行可能不屬於MAS監管範圍的功能的數字代幣可能仍然受制於其他立法以對抗ML / TF。 MAS希望特彆強調所有人必須遵守的以下內容：
3.3.1 Obligations to report suspicious transactions with the Suspicious Transaction Reporting Office, Commercial Affairs Department of the Singapore Police Force pursuant to section 39 of the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act (Cap. 65A) (「CDSA」); and
3.3.1根據「反腐敗，販毒及其他重大犯罪（沒收利益）法」（第65A章）第39條，向新加坡警察部門商業事務部可疑交易報告辦公室報告可疑交易的義務（「 CDSA」）;和
3.3.2 Prohibitions from dealing with or providing financial services to designated individuals and entities pursuant to the Terrorism (Suppression of Financing) Act (Cap. 325) (「TSOFA」) and various regulations giving effect to United Nations Security Council Resolutions (「UN Regulations」).
3.3.2禁止根據「恐怖主義（制止融資）法」（第325章）（「TSOFA」）和實施聯合國安理會決議的各項條例（「聯合國」）向指定個人和實體提供或提供金融服務條例」）。
3.4 November 2018. A person carrying on a business of providing any service of dealing in digital payment tokens or any service of facilitating the exchange of digital payment tokens must be licensed and will be regulated under the PSB for AML/CFT purposes only and will be required to put in place policies, procedures and controls to address its ML/TF risks.
3.4 2018年11月，經營提供任何數字支付代幣交易服務或促進數字支付代幣交換服務的人必須獲得許可，並且僅受PSB管制，僅用於反洗錢/打擊資助計劃，並且 要求制定政策，程序和控制措施以解決其ML / TF風險。
3、案例調整
案例一
However, Company A must abide by all Singapore laws, including the CDSA, the TSOFA and the UN Regulations, in the conduct of its business.
但是，A公司在開展業務時必須遵守所有新加坡法律，包括CDSA，TSOFA和聯合國法規。
案例二
Company B will not require a capital markets services licence for dealing in capital markets products that are securities under the SFA if (a) it is not in the business of dealing in capital markets products that are securities or (b) it is in the business of dealing in capital markets products that are securities, but an applicable exemption applies. For example, if it is carrying on business in dealing in capital markets products that are securities for his own account through certain financial institutions regulated by MAS, such as a holder of capital markets services licence to deal in capital markets products that are securities.
