Regulatory Alerts2018-10-23
Added · Updated
Guidelines on Applications for Approval of Arrangements under Paragraph 11 of the First Schedule to the Financial Advisers Act
The Monetary Authority of Singapore establishes assessment criteria and application procedures for approving arrangements between licensed or exempt Singapore financial advisers and their foreign related corporations under Paragraph 11 of the First Schedule to the Financial Advisers Act. Approvals are granted when the foreign entity demonstrates competence, operates efficiently, and is supervised by its home regulator, with favorable consideration given to arrangements where the Singapore entity controls key processes like advisory and client servicing. Applications must be submitted using specified formats and are generally restricted to serving accredited, expert, or institutional investors. The Authority reserves the right to review approvals upon material changes to the arrangement's substance.
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