Regulatory Alerts2018-10-23
Added · Updated
Guidelines on Applications for Approval of Arrangements under Paragraph 9 of the Third Schedule to the Securities and Futures Act
The Monetary Authority of Singapore establishes assessment criteria and application procedures for approving arrangements under Paragraph 9 of the Third Schedule to the Securities and Futures Act, allowing foreign companies to carry on regulated activities through related licensed or exempt Singapore entities. Applicants must demonstrate that foreign related corporations possess competence, discharge functions efficiently, and are subject to proper home supervision, while ensuring key processes like KYC and order placement are handled locally. The Authority generally restricts such arrangements to accredited, expert, or institutional investors and reserves the right to review approvals if material changes occur in the arrangement's substance.
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