Financial Adviser (FA): Licence Application

Admission criteria for financial adviser's (FA) licence

According to MAS (Pages),

last revised on 31 March 2020

When assessing an application for an FA licence, MAS takes into account factors such as:

  • Fitness and propriety of the applicant, its shareholders and directors.
  • Track record, management expertise and financial soundness of the applicant and its parent company or major shareholders.
  • Ability to meet the minimum financial requirements and professional indemnity insurance requirements prescribed under the FAA.
  • Strength of internal compliance systems.
  • Business plans and projections.

Your company will also need to appoint the following individuals:

  • Minimum of 2 directors, at least one of whom is resident in Singapore.
  • Chief Executive Officer with at least 10 years of relevant experience, of which at least 5 years must have been in a managerial capacity and is resident in Singapore.
  • Minimum of 3 full-time Singapore-based individuals with at least 5 years of relevant working experience.

You can refer to the Guidelines on Criteria for the Grant of a Financial Adviser’s Licence for more information.