Regulatory Alerts2019-08-01
Added · Updated
Guidelines on Applications for Approval of Arrangements under Regulation 32CB of the Financial Advisers Regulations (Rg 2)
The Monetary Authority of Singapore sets out assessment criteria and procedures for approving arrangements under Regulation 32CB of the Financial Advisers Regulations, specifically the ACMF Pass and Cross-Border Publication of Research Report Arrangement. Relevant entities must demonstrate a minimum five-year corporate track record, financial soundness, and authorization in a Specified ASEAN participating country to qualify for approval. Approved ACMF Passes are valid for two years and require Singapore Entities to maintain registers of Recognised Representatives, ensure compliance with fit-and-proper criteria, and implement oversight policies. The Authority reserves the right to review, cancel, or vary approvals based on material changes in circumstances or regulatory integrity concerns.
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