Regulatory Alerts2024-07-24
Added
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 issued these guidelines to establish assessment criteria and information requirements for capital market licensees seeking approval for cross-border business arrangements with foreign related corporations. The document explicitly states that the Monetary Authority of Singapore no longer accepts applications under this framework because a notification framework was implemented on 9 October 2021. Consequently, this guidance is cancelled and superseded by the new regulatory regime governing cross-border services.
Guidelines
Last Revised Date: 24 July 2024
Guidelines on Applications for Approval of Arrangements under Paragraph 9 of the Third Schedule to the Securities and Futures Act [SFA 04-G03] [Cancelled]
Guidelines on how to qualify for and apply to have foreign related corporations to carry out regulated activities under the Securities and Futures Act.
View Document
Guidelines on Applications for Approval of Arrangements under Paragraph 9 of the Third Schedule to the Securities and Futures Act [SFA 04-G03] [Cancelled]
(420.2 KB)
These guidelines apply to:
Capital markets services licensees.
Banks, merchant banks, finance companies and insurers conducting regulated activities under the Securities and Futures Act.
They set out the assessment criteria and information to be submitted when applying for approval for cross-border business arrangements with foreign related corporations. Please note that MAS no longer accepts applications for approval of such arrangements, given that a notification framework has been implemented as of 9 October 2021. Please refer to the Consultation Papers and their related resources via the links below.
23 Oct 2018 SFA 04-G03 (Amendment) 2018 takes effect.
08 Oct 2018 Previous version last revised on 08 Oct 2018 (339.3 KB) [Cancelled]
13 May 2011 Previous version last revised on 13 May 2011 (89.5 KB) [Cancelled]
16 Jul 2003 Previous version last issued on 16 Jul 2003 [Cancelled]
Guidelines on how to qualify for and apply to have foreign related corporations to carry out regulated activities under the Financial Advisers Act.
Clarifications on the requirements under the Exemption Frameworks for cross-border business arrangements of capital markets intermediaries involving Foreign Related Corporations and Foreign Offices.
This consultation seeks comments on the draft Notices setting out the proposed anti-money laundering and countering the financing of terrorism requirements under both the proposed Branch Framework and notified FRC framework.
Consultation number:
P005-2021
Start date:
12 May 2021
Closing date:
11 June 2021
MAS response date:
08 October 2021
This consultation seeks views on (i) MAS’ proposal to exempt foreign head offices or branches of financial institutions in Singapore from the applicable business conduct and representative notification requirements when they serve Singapore customers; and (ii) proposed notification and annual reporting forms, as well as the draft regulations and notices, for both the proposed Branch Framework and notified FRC framework.
Consultation number:
P001-2021
Start date:
15 March 2021
Closing date:
15 April 2021
MAS response date:
08 October 2021
Proposed revisions to streamline the exemption framework which allows foreign related corporations of financial institutions in Singapore to provide cross-border services to customers in Singapore without having to hold a licence.
Consultation number:
P017 - 2018
Start date:
04 December 2018
Closing date:
31 January 2019
MAS response date:
05 June 2020
Sets out when acts carried out outside Singapore are still subject to the Securities and Futures Act (SFA).
Proposed guidance on what constitutes arrangements under paragraph 9 of the Third Schedule to the SFA, and the assessment criteria for grant of such approval.
Consultation number:
Start date:
20 March 2003
Closing date:
20 April 2003