Regulations for all Capital Markets Services

Exemption from CMS licence requirement for dealing in capital markets products


  • Persons who are exempted under Paragraph 2(1) of the Second Schedule, Securities and Futures (Licensing and Conduct of Business) Regulations

    Persons who are exempted under Paragraph 2(1) of the Second Schedule, Securities and Futures (Licensing and Conduct of Business) Regulations, including but not limited to the following:
    a. A person when carrying on business in dealing in such capital markets products for his own account, or an account belonging to and maintained wholly for the benefit of a related corporation, and with or through certain specified types of entities;
    b. A person whose dealing in such capital markets products is solely incidental to his carrying on business in fund management, providing custodial services, or product financing; and
    c. A licensed or exempted financial adviser, when dealing in such capital markets products by passing on an order to purchase or sell any specified product on behalf of a customer to whom the financial adviser provides a specified financial advisory service, to an appropriately licensed or exempted person.

    Paragraph 2(1) of the Second Schedule, Securities and Futures (Licensing and Conduct of
    Business) Regulations