Identifier
Created
Classification
Origin
09SINGAPORE630
2009-07-02 09:02:00
UNCLASSIFIED//FOR OFFICIAL USE ONLY
Embassy Singapore
Cable title:
SINGAPORE CONSIDERING FINANCIAL CHANGES FOR UNSCR 1874
how-toVZCZCXYZ0000 RR RUEHWEB DE RUEHGP #0630 1830902 ZNR UUUUU ZZH R 020902Z JUL 09 FM AMEMBASSY SINGAPORE TO RUEHC/SECSTATE WASHDC 6915 RUEATRS/DEPT OF TREASURY WASHINGTON DC
UNCLAS SINGAPORE 000630
ISN/CPI FOR JCHALMERS
SENSITIVE
SIPDIS
E.O. 12958: N/A
TAGS: ECON EFIN PARM PREL KNNP SN
SUBJECT: SINGAPORE CONSIDERING FINANCIAL CHANGES FOR UNSCR 1874
REF: STATE 66250
UNCLAS SINGAPORE 000630
ISN/CPI FOR JCHALMERS
SENSITIVE
SIPDIS
E.O. 12958: N/A
TAGS: ECON EFIN PARM PREL KNNP SN
SUBJECT: SINGAPORE CONSIDERING FINANCIAL CHANGES FOR UNSCR 1874
REF: STATE 66250
1. (SBU) Singapore financial authorities are considering how best
to implement UNSCR 1874 and the new financial measures it brings
against North Korea. Grace Yan, Assistant Director of Financial
Services Relations in the Monetary Authority of Singapore (MAS),
told Econoff July 1 in response to reftel points that MAS had just
issued on June 8 new regulations to implement UNSCR 1718, but was
still considering how to implement the newest resolution. Econoff
requested that MAS move quickly to require Singapore's financial
institutions to exercise greater diligence with North Korean
transactions in line with the new resolution. MAS has not yet
issued advisories to local banks regarding UNSCR 1874. Econoff
provided Yan the U.S. Treasury advisory and urged MAS to distribute
the advisory as well as any future MAS advisory related to UNSCR
1874 to the banks as soon as possible.
2. (SBU) Yan requested a copy of any legislative changes made in
the United States to comply with UNSCR 1874 as a reference for
Singapore to use in implementing the resolution.
3. (SBU) Econoffs also delivered reftel points June 29 to Melissa
Ong, desk officer in MFA's Counterproliferation and International
Security Branch. Ong said that MFA coordinates closely with MAS
regarding outreach to financial institutions, but averred on
implementation of the financial provisions of 1874 to MAS.
SHIELDS
ISN/CPI FOR JCHALMERS
SENSITIVE
SIPDIS
E.O. 12958: N/A
TAGS: ECON EFIN PARM PREL KNNP SN
SUBJECT: SINGAPORE CONSIDERING FINANCIAL CHANGES FOR UNSCR 1874
REF: STATE 66250
1. (SBU) Singapore financial authorities are considering how best
to implement UNSCR 1874 and the new financial measures it brings
against North Korea. Grace Yan, Assistant Director of Financial
Services Relations in the Monetary Authority of Singapore (MAS),
told Econoff July 1 in response to reftel points that MAS had just
issued on June 8 new regulations to implement UNSCR 1718, but was
still considering how to implement the newest resolution. Econoff
requested that MAS move quickly to require Singapore's financial
institutions to exercise greater diligence with North Korean
transactions in line with the new resolution. MAS has not yet
issued advisories to local banks regarding UNSCR 1874. Econoff
provided Yan the U.S. Treasury advisory and urged MAS to distribute
the advisory as well as any future MAS advisory related to UNSCR
1874 to the banks as soon as possible.
2. (SBU) Yan requested a copy of any legislative changes made in
the United States to comply with UNSCR 1874 as a reference for
Singapore to use in implementing the resolution.
3. (SBU) Econoffs also delivered reftel points June 29 to Melissa
Ong, desk officer in MFA's Counterproliferation and International
Security Branch. Ong said that MFA coordinates closely with MAS
regarding outreach to financial institutions, but averred on
implementation of the financial provisions of 1874 to MAS.
SHIELDS