Guidelines
Guidelines on Fit and Proper Criteria [FSG-G01]
Guidelines on fit and proper criteria for all relevant persons carrying out any activity regulated by MAS.
Applies to:
Full Bank (Locally Incorporated)
,
Full Bank (Branch)
,
Wholesale Bank (Branch)
,
Wholesale Bank (Locally Incorporated)
,
Merchant Bank (Locally Incorporated)
,
Merchant Bank (Branch)
,
Direct Insurer (Life)
,
Direct Insurer (General)
,
Direct Insurer (Composite)
,
Reinsurer (Life)
,
Reinsurer (General)
,
Reinsurer (Composite)
,
Captive Insurer
,
Lloyd's Asia Scheme
,
Authorised Reinsurer
,
Dealing in Capital Market Products
,
Product Financing
,
Licensed Fund Management Company
,
Corporate Finance Advisory
,
REIT Management
,
Registered Fund Management Company
,
Credit Rating Agency
,
Securities Crowdfunding
,
Venture Capital Fund Management Company
,
Exempt Futures Broker
,
Exempt OTC Derivatives Broker
,
Providing Custodial Services
,
Exempt Corporate Finance Adviser Serving Accredited Investors
,
Licensed Financial Adviser
,
Exempt Financial Adviser
,
Exempt Financial Adviser Serving up to 30 Accredited Investors
,
Registered Insurance Broker
,
Exempt Insurance Broker
,
Approved Insurance Broker
,
Exempt Trust Company
,
Licensed Trust Company
,
Exempt Person Providing Trust Services
,
Approved CIS Trustee
These guidelines set out the fit and proper criteria that apply to all relevant persons carrying out any activity regulated by MAS. The relevant person is expected to be competent, honest, to have integrity and to be of sound financial standing.
The guidelines cover:
- Definitions of 'relevant persons' and scope of application.
- Criteria for considering if a relevant person is fit and proper.
Amendment Notes
- 03 Sep 2015
- Previous version last revised on 03 September 2015 (201 KB) [Cancelled]
- 06 Mar 2014
- Previous version last revised on 06 March 2014 [Cancelled]
- 17 Jan 2012
- Previous version last revised on 17 January 2012 (175.3 KB) [Cancelled]
- 26 Nov 2010
- Previous version last revised on 26 November 2010 (150 KB) [Cancelled]
Related to this Item
-
Subsidiary LegislationPublished Date: 19 December 2018
Insurance (Corporate Governance) Regulations 2013
Sets out the corporate governance requirements applicable to all direct insurers and reinsurers incorporated in Singapore (except marine mutual insurers)
-
Forms and TemplatesPublished Date: 08 October 2018
Form 3 - Application for Approval to Act as a Trustee for Collective Investment Schemes under Section 289(1) Collective Investment Schemes
Form for entities applying to be a trustee for an authorised collective investment scheme.
-
CircularsPublished 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.
-
FAQsLast Revised Date: 08 October 2018
FAQs on Exempt Persons
Provides guidance on regulatory requirements that an exempt person serving not more than 30 accredited investors or an exempt corporate finance adviser is expected to comply with, including criteria for exemption, form for lodgement as an exempt person and ongoing regulatory requirements.
-
RegulationsLast Revised Date: 13 August 2018
Trust Companies Regulations
Set out requirements for licensing, financial resources and conduct of business requirements for licensed trust companies.
-
Forms and TemplatesPublished Date: 01 November 2016
Form 1 - Application for a Trust Business Licence under Section 4
Form for entities to apply for a trust business licence under the Trust Companies Act.
-
Subsidiary LegislationPublished Date: 18 April 2013
Insurance (Actuaries) Regulations 2013
Sets out the roles and responsibilities of appointed and certifying actuaries, and MAS' expectations on the appointment process and notification of engagements in equivalent roles in other jurisdictions.
-
NoticesLast Revised Date: 18 April 2013
Notice 106 Appointment of Director, Chairman and Key Executive Person
Requirements and guidelines for licensed insurers on the appointment of director, chairman and key executive person.
-
GuidelinesPublished Date: 01 March 2013
Guidelines on Risk Management Practices – Board and Senior Management
Guidelines on the role that a financial institution's Board of Directors and senior management play in risk management.
-
GuidelinesPublished Date: 24 August 2010
Guidelines on Criteria for the Grant of a Trust Business Licence [TCA-G02]
How to qualify to be a licensed trust company
-
Forms and TemplatesPublished Date: 07 September 2007
Form 4 - Appointment of Resident Manager or Director under Section 13 and Regulation 9
Form for licensed trust companies to apply for the appointment of a resident manager or director.
-
Forms and TemplatesPublished Date: 07 September 2007
Form 3 - Application for Approval of Controller under Section 17(1)
Form for a person to apply to become a controller of a licensed trust company.
-
NoticesLast Revised Date: 07 September 2007
Notice 817 Appointment of Directors and Chief Executives
Requirements for all finance companies on the appointment of chief executive, deputy chief executive, chief financial officer and directors.
-
NoticesLast Revised Date: 07 September 2007
Notice 1011 Appointment of Chief Executives of Branches of Banks Incorporated Outside Singapore
Requirements for all merchant banks on the appointment of chief executive and deputy chief executive.
-
NoticesLast Revised Date: 07 September 2007
Notice 753 Appointment of Head of Treasury and Register of Dealers
Requirements for banks on the appointment of Head of Treasury and changes in dealers.
-
NoticesLast Revised Date: 07 September 2007
Notice 1102 Appointment of Head of Treasury and Register of Dealers
Requirements for merchant banks on the appointment of Head of Treasury and changes in dealers.
-
NoticesLast Revised Date: 06 June 2007
Notice 622A Appointment of Chief Executives of Branches of Banks Incorporated Outside Singapore
Requirements for banks incorporated outside Singapore on the appointment of chief executive or deputy chief executive.
-
DirectivesPublished Date: 19 March 2007
Directive 20 Disqualification of Directors and Employees of Merchant Banks
Requirement for directors and employees of all merchant banks to not continue their role without MAS’ approval, if they become bankrupt, convicted of dishonesty or fraud offence, or had been a director or management of a withdrawn merchant bank.
-
DirectivesPublished Date: 19 March 2007
Directive 18 Offences by Directors and Chief Executives of Merchant Banks
Requirement for directors and chief executives of all merchant banks to take all reasonable steps to secure compliance with MAS regulations and accuracy of statements submitted to MAS.
-
DirectivesPublished Date: 19 March 2007
Directive 19 Offences by Directors, Employees and Agents
Requirement for directors, employees and agents of all merchant banks to not wilfully make a false entry, omit to make an entry, or alter, conceal or destroy an entry in any books, statements or records of the merchant bank.
-
Subsidiary LegislationPublished Date: 05 September 2005
Banking (Corporate Governance) Regulations 2005