Showing 590 Documents for "CMS"
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- Strengthening safeguards for retail customers’ monies held with capital markets services licencees 24 Currently, firms who are holders of a capital markets service licence are permitted to withdraw customers’ monies maintained in segregated trust accounts, subject to customers’ written authorisation
- For example, MAS’ powers to revoke capital markets services licences or revoke the status of an individual as a representative on the Public Register will be extended to a wider range of situations.
- The Bill will also strengthen protection of retail customers’ monies that are placed with capital market services licencees. 6 To support a tighter regulatory framework in the two major areas I have just mentioned, the Bill will also enhance and refine MAS’ supervision and enforcement powers, and make
- MAS
- Forms and Templates
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- Form for capital markets services licensees to apply for additional type(s) of regulated activity/activities. Form 5 should be lodged online via FormSG . After submission, FIs may view a record of their submission by logging into MAS-Tx .
- SECURITIES AND FUTURES ACT (Cap. 289) SECURITIES AND FUTURES (LICENSING AND CONDUCT OF BUSINESS) REGULATIONS (Rg 10) APPLICATION FOR ADDITIONAL REGULATED ACTIVITY UNDER A CAPITAL MARKETS SERVICES LICENCE UNDER SECTION 90(1) READ WITH REGULATION 11A FORM 5 Explanatory Notes 1.
- We are aware that under sections 86(4)(h) and 90(3)(b) of the Act, the Authority may refuse the application for an additional regulated activity under a capital market services license if the applicant fails to satisfy the Authority that the applicant (including its officers, employees
- MAS
- Speeches
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- services licence ("CMSL") is needed to conduct multiple regulated activities.
- Under the framework, CMSL holders need only maintain capital sufficient for the business risks they undertake, according to their respective operations.
- The capital requirement will comprise two elements - a common minimum dollar requirement depending on whether the CMSL holder is engaged in clearing activities, and a risk-based financial resources requirement that is dependent on the specific risks that are assumed by the firm. 20 Third , the SFA also
- MAS
- FAQs
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- . -------- FAQs on Credit Rating Agencies Updated on 17 January 2012 4 Who would be considered a representative of a CRA that holds a Capital Markets Services (CMS) licence for providing credit rating services and hence would be required to be registered under the
- Thus, in the case of a representative of a CMS licensee for providing credit rating services, he is a person who engages in preparing, whether wholly or partly in Singapore, credit ratings.
- MAS
- Consultations
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- to the bank, merchant bank or the capital markets services license holder).
- As the proposed Notice will apply to CMS licensees which include managers of authorised funds, paragraph 3.1(d) (best execution) in the Code on Collective Investment Schemes will be removed to eliminate duplication.
- Proposals to formalise MAS’ expectations for CMS licensees, banks, merchant banks and finance companies to have policies and procedures to place and execute customers’ orders on the best available terms (also known as “Best Execution”) to support fair outcomes for customers.
- MAS
- FAQs
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- Provides guidance on the minimum academic and examination requirements as well as continuing education requirements for representatives of capital markets services licensees, banks, merchant banks, finance companies and insurers.
- Monetary Authority of Singapore SECURITIES AND FUTURES ACT (CAP. 289) NOTICE ON MINIMUM ENTRY AND EXAMINATION REQUIREMENTS FOR REPRESENTATIVES OF HOLDERS OF CAPITAL MARKETS SERVICES LICENCE AND EXEMPT FINANCIAL INSTITUTIONS FREQUENTLY ASKED QUESTIONS (Reissued on 8 April 2020)
- Currently, paragraph 11 of the Notice on Minimum Entry and Examination Requirements for Representatives of Holders of Capital Markets Services Licence and Exempt Financial Institutions (the SFA Exam Notice) states that a representative is not required to pass Modules 1A, 1B or 6 to conduct
- MAS
- Consultations
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- REFERENCE CHECKS 14 May 2021 (x) Any person exempted from holding a financial advisers licence under regulation 27(1)(d) of the Financial Advisers Regulations; (xi) Any registered insurance broker under the IA; (xii) Any person exempted from the requirement to hold a capital
- insurer licensed under the Insurance Act (Cap. 142) (IA); Any foreign insurer operating in Singapore under a foreign insurer scheme established under the IA; (vii) Any designated financial holding company approved under section 28 of the MAS Act9; (viii) Any holder of a capital
- Singapore, approved holding company, licensed trade repository or the Central Depository System under the Securities and Futures Act, as the case may be, the functions involving the creation, sale and marketing of regulated products; (vi) in relation to a holder of a capital
- MAS
- Speeches
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- markets services licence for fund management under section 86 of the Securities and Futures Act (Cap. 289)), a registered fund management company (i.e. a corporation exempted from holding a capital markets services licence under paragraph 5(1)(i) of the Second Schedule to the Securities and Futures
- (Licensing and Conduct of Business) Regulations) or a person exempted under the Section 99(1)(a), (b), (c), or (d) of the Securities and Futures Act (Cap. 289) from the requirement to hold a capital markets services licence to carry on business in fund management (i.e. a bank licensed under the Banking
- and in line with market practice, the price of such share purchases must be in accordance with the applicable listing requirements and need not to be priced at net asset value. 2 Generally, a VCC will have to be managed by a fund manager which is a licensed fund management company (i.e. a holder of a capital
- MAS
- Forms and Templates
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- SECURITIES AND FUTURES ACT 2001 SECURITIES AND FUTURES (LICENSING AND CONDUCT OF BUSINESS) REGULATIONS FORM 23 NOTICE OF CHANGE OF PARTICULARS LODGED PURSUANT TO PARAGRAPH 7(6)(b) OF THE SECOND SCHEDULE TO THE REGULATIONS BY PERSON EXEMPTED FROM HOLDING CAPITAL MARKETS SERVICES LICENCE TO CARRY
- ON BUSINESS IN ADVISING ON CORPORATE FINANCE UNDER PARAGRAPH 7(1)(b) OF THE SECOND SCHEDULE TO THE REGULATIONS NOTICE OF CHANGE OF PARTICULARS LODGED PURSUANT TO PARAGRAPH 7(6)(b) OF THE SECOND SCHEDULE TO THE REGULATIONS BY PERSON EXEMPTED FROM HOLDING CAPITAL MARKETS SERVICES LICENCE TO CARRY ON
- In this Form exempt person refers to a person exempt from holding a capital markets services licence under paragraph 7(1)(b) of the Second Schedule to the Securities and Futures (Licensing and Conduct of Business) Regulations (the Regulations); key officer, in relation to an exempt person, means: a
- MAS
- Exemptions
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- Markets Services (CMS) licence for fund management (or be exempted from a CMS licence, and be fit and proper.
- constituted in Singapore Schemes constituted outside Singapore Offer to retail investors Authorised schemes Recognised schemes [Use Form 1 in the SFR1 to apply for authorisation of each scheme]* [Use Form 2 in the SFR to apply for recognition of each scheme]* Manager must hold a Capital
- for each restricted scheme to be entered into the list of restricted schemes]** Manager must be licensed or regulated to manage the assets of the restricted scheme in the jurisdiction of its principal place of business (or be a public company that is exempted from the requirement to hold a Capital