Guidelines on Criteria for the Grant of a Capital Markets Services Licence Other Than for Fund Management and Real Estate Investment Trust Management [SFA 04-G01]

Guidelines

Published Date: 01 November 2016

These guidelines set out the licensing criteria for capital markets services (CMS) licensees who are:

Broker-dealers
Corporate finance advisors
Securities financiers
Custodians
Credit rating agencies

The licensing criteria include fitness and propriety, base capital and professional indemnity insurance.

Forms and Templates

Published Date: 09 October 2018

Form 3A - Notification for Appointment of an Appointed Representative

Form for licensed financial advisers, capital markets services licensees, banks, merchant banks, finance companies and insurers to notify MAS of the appointment of representatives.

Licensing, Authorisation and Registration Representative-related Notifications
FAQs

Published Date: 09 October 2018

FAQs on Licensing and Business Conduct (Other than for Fund Management Companies)

Provides guidance on the scope of capital markets services licensing (other than for fund management companies); appointment of representatives; business conduct rules; and the application of the SFA and SF(LCB)R to banks, merchant banks, finance companies and insurers.

Licensing, Authorisation and Registration Customer Monies and Assets Segregation
FAQs

Published Date: 08 October 2018

FAQs on Lending-based Crowdfunding

Provides guidance on the regulation of lending-based crowdfunding, including licensing of lending-based crowdfunding operators and applicable prospectus requirements or exemptions on offers of debentures.

Licensing, Authorisation and Registration Exemptions Securities or Securities-Based Derivatives Contracts
Forms and Templates

Published Date: 08 October 2018

Form 1 - Application for a Capital Markets Services Licence (Other than for a Fund Management Company)

Form for entities (other than fund management companies to apply for a capital markets services licence to conduct regulated activities under the Securities and Futures Act. Fund management companies should submit Form 1A, 1V or 22A, depending on the type and scope of their fund management activities.

Licensing, Authorisation and Registration
Forms and Templates

Published Date: 08 October 2018

Form 11 - Appointment of Chief Executive Officer or Director / Change of Director's Nature of Appointment from Non-Executive to Executive

Form for capital markets services licensees, other than licensed fund management companies, to apply for the appointment of a Chief Executive Officer or director; or to change a director’s role from non-executive to executive.

Licensing, Authorisation and Registration Key Appointments Fit and Proper Criteria
Circulars

Published Date: 08 October 2018

CMI 01/2011 Due Diligence Checks and Documentation in Respect of the Appointment of Appointed, Provisional, and Temporary Representatives

This circular applies to capital markets services licensees, banks, merchant banks, finance companies and insurers. It sets out the requirements on due diligence checks and documentation relevant to the fit and proper certification of their representatives.

Licensing, Authorisation and Registration Fit and Proper Criteria Representative-related Declarations
Regulations

Last Revised Date: 08 October 2018

Securities and Futures (Licensing And Conduct Of Business) Regulations

Sets out requirements for licensing, representative notification and conduct of business, and criteria for exemptions from licensing.

Licensing, Authorisation and Registration Representative-related Disclosures Record Keeping Customer Monies and Assets Segregation Advisory and Sales Key Appointments Corporate Governance Fit and Proper Criteria Appointment of Auditors Notifications Declarations Financial Returns Security Deposit and PII Exemptions
Regulations

Last Revised Date: 08 October 2018

Securities And Futures (Financial And Margin Requirements For Holders Of Capital Markets Services Licences) Regulations

Sets out the minimum capital and financial resources, and other financial and margin requirements.

Capital and Financial Resources Financial Returns
Regulations

Last Revised Date: 08 October 2018

Securities and Futures (Exemption from Requirement to Hold Capital Markets Services Licence) Regulations

Sets out exemption for Citibank Aktiengesellschaft and other persons (e.g. remote clearing members) from the requirement to hold a capital markets services licence for dealing in capital markets products, subject to conditions.

Licensing, Authorisation and Registration Exemptions
FAQs

Published Date: 30 August 2018

System Training Video for Financial Institutions on the Use of the Corporations and Representatives System (CoRe) for the Submission of Representative Notifications to MAS

Provides guidance to financial institutions on the submission of representative notifications though the CoRe system.

Licensing, Authorisation and Registration Representative-related Notifications
Circulars

Published Date: 23 August 2018

CMI 27/2018 Controls and Disclosures to be Implemented by Licensed Securities-Based Crowdfunding Operators

This circular applies to licensed securities-based crowdfunding (SCF) operators. It sets out the measures SCF operators should put in place to assess issuers, manage defaults or cessations, and disclose interest and default rates.

Disclosures Operational Risk Securities or Securities-Based Derivatives Contracts
Monographs/Information Papers

Published Date: 15 November 2017

A Guide to Digital Token Offerings 2017

On 1 August 2017, the Monetary Authority of Singapore (MAS) clarified that if a digital token constitutes a product regulated under the securities laws administered by MAS, the offer or issue of digital tokens must comply with the applicable securities laws. This paper provides general guidance on the application of the securities laws administered by MAS in relation to offers or issues of digital tokens in Singapore.
Explainers

Published Date: 14 November 2017

A Guide to Digital Token Offerings

General guidance on the application of securities laws administered by MAS in relation to offers or issues of digital tokens in Singapore.

Securities or Securities-Based Derivatives Contracts Collective Investment Schemes Licensing, Authorisation and Registration
Notices

Last Revised Date: 20 October 2017

Notice SFA 04-N13 Risk Based Capital Adequacy Requirements for Holders of Capital Markets Services Licences

How to comply with risk based capital adequacy requirements.

Capital and Financial Resources Financial Returns
Guidelines

Published Date: 01 November 2016

Guidelines on Licence Applications, Representative Notification and Payment of Fees [CMG-G01]

Guidelines on procedures to apply for a Capital Markets Services (CMS) or Financial Advisory (FA) licence, appoint representatives and pay fees.

Representative-related Licensing, Authorisation and Registration
Consultations

Published Date: 03 June 2015

Consultation Paper on Regulatory Framework for Intermediaries Dealing in OTC Derivative Contracts, Execution-Related Advice, and Marketing of Collective Investment Scheme

Covered three proposals: (i) Regulatory framework for capital markets services licensees, banks, merchant banks and finance companies dealing in OTC derivative contracts under the SFA, including capital, business conduct and other requirements; (ii) exemption for execution-related advice on listed excluded investment products under the FAA; and (iii) transferring the regulation of marketing of CIS from the FAA to SFA.

Licensing, Authorisation and Registration Operational Risk Guidelines on Risk Management Practices Advisory and Sales Disclosures Customer Monies and Assets Segregation Record Keeping Representative-related Capital and Financial Resources

Consultation number:

P009-2015

Start date:

03 June 2015

Closing date:

03 July 2015

MAS response date:

29 December 2015
Consultations

Published Date: 16 February 2015

Consultation Paper on Facilitating Securities-Based Crowdfunding

Proposed measures to facilitate securities-based crowdfunding (SCF), such as lowering of financial requirements for platform operators. Also provided clarifications on exemptions from certain prospectus requirements under the SFA for fundraising through SCF.

Licensing, Authorisation and Registration Exemptions Capital and Financial Resources

Consultation number:

P005 - 2015

Start date:

16 February 2015

Closing date:

18 March 2015

MAS response date:

08 June 2016
Consultations

Published Date: 27 August 2007

Consultation Paper on Capital Requirements for Brokers Trading Only in Commodity Futures Contracts

Proposed lowering of base capital requirements for capital services licensees trading only in commodity futures contracts.

Licensing, Authorisation and Registration Capital and Financial Resources

Consultation number:

007 - 2007

Start date:

27 August 2007

Closing date:

27 September 2007
Regulations

Published Date: 23 May 2002

Securities and Futures (Opportunity to be Heard) Regulations

Provides for a person to be given an opportunity to be heard by MAS and to be given at least 10 days to submit any written supporting documents as to why MAS should reconsider the decision it intends to make.

Licensing, Authorisation and Registration Representative-related Key Appointments Securities or Securities-Based Derivatives Contracts Collective Investment Schemes

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Guidelines on Criteria for the Grant of a Capital Markets Services Licence Other Than for Fund Management and Real Estate Investment Trust Management [SFA 04-G01]