Payment Services Act Training - Waystone

      Payment Services Act Training

      Our Payment Services Act (PSA) training courses provide an overview of the PSA, its licensing requirements, financial and operational requirements as well as business conduct requirements post licencing.

      Understand the Rules & Regulations of the Payment Services Act

      This training programme aims to provide an introduction to the PSA and equip Payment Service Providers in Singapore with knowledge of the various rules and regulations as set out in the PS Act. The training intends to cover pre licensing compliance requirements as well as post licensing compliance requirements.

      PSA training course outline

      This course covers the following topics:

      • Introduction to regulatory framework
      • PSA Licensing requirements
      • PSA Licensing process
      • Business conduct requirements
      • AML/CFT requirements
      • Enterprise-wide risk assessment requirements
      • Technology risk management and cyber security
      • Q&A

      Course objectives

      • Obtain an overview of the Payment Services Act and key legislations
      • Understand categories of licensing and activities
      • Understand Licensing requirements and process
      • Gain understanding of business conduct requirements
        • Compliance arrangements
        • Safeguarding measures
        • Interoperability Powers
        • Disclosure requirements
      • Understand summary of Anti-money laundering/Countering of Financing of Terrorism (AML/CFT) requirements
      • Obtain key knowledge on technology, cyber security requirements
      • Obtain overview on how to address enterprise-wide risk assessment
      • Obtain an overview of regulatory returns

      Who should attend?

      All officers and employees currently licensed or intending to be licensed under the PS Act in Singapore such as:

      • Board of directors and senior management
      • Compliance officers and managers
      • Personnel involved in customer onboarding, investor relations and customer facing including client services management teams
      • Personnel involved in technology risk management/cyber security
      • All other employees

      Assessment and certificate

      A certificate of 1.5 hours of core CPD hours under both Securities and Futures Act (“SFA”) as well as Financial Advisers Act (“FAA”) will be provided to those who complete the course and pass the assessment.

      A passing mark for the quiz is 12 out of 15 MCQ questions.

      The assessment will be completed in participants own time within 5 business days after the training session. Participants will be able to have 2 tries to pass the assessment. The assessment takes around 30 minutes to complete.

      Course format

      The PSA training is conducted via Live Webinar – the dial-in details and the link to the assessment will be sent nearer the training date.

      Have a question about our training courses? Contact our APAC Compliance team today.

       

       

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