Regulatory Alerts2021-06-28
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Guidelines on Criteria for the Grant of a Financial Adviser's Licence [FAA-G01]
The Monetary Authority of Singapore issues these guidelines to establish the licensing admission criteria for persons applying for a financial adviser’s licence under the Financial Advisers Act. The document specifies who is required to apply for a licence and outlines the criteria considered during the assessment of such applications. It serves as the primary regulatory reference for licensing, authorisation, and registration of licensed financial advisers in Singapore.
Guidelines
Last Revised Date: 28 June 2021
Guidelines on Criteria for the Grant of a Financial Adviser's Licence [FAA-G01]
Guidelines on the licensing admission criteria for persons applying for a financial adviser’s licence under the Financial Advisers Act.
Licensing, Authorisation and Registration
Applies to:
Licensed Financial Adviser
View Document
Guidelines on Criteria for the Grant of a Financial Adviser's Licence [FAA-G01]
(200.6 KB)
These guidelines set out the licensing admission criteria for persons applying for a financial adviser’s licence under the Financial Advisers Act, including:
Who needs to apply for a financial adviser's licence.
Criteria that will be taken into consideration when assessing applications.
See also:
FAQs on Financial Advisers Act, Financial Advisers Regulations, Notices and Guidelines (419.6 KB)
Form for licensed financial advisers to apply for the appointment of a Chief Executive Officer or director; or the change in nature of director appointment from non-executive to executive.
Provides guidance to financial advisers about the FAA regime and covers topics including licensing requirements, exemptions, representative notification framework, business conduct and reporting requirements.
Guidelines on procedures to apply for a Capital Markets Services or Financial Advisory licence, appoint representatives and pay fees.
Proposed legislative amendments to raise the competency of FA representatives and quality of FA firms; lower distribution cost by enhancing market efficiency; and promote a culture of fair dealing.
Consultation number:
P022-2014
Start date:
02 October 2014
Closing date:
03 November 2014
MAS response date:
11 May 2015
Proposed recommendations aimed at raising the quality of financial advisers (FA) and competency of FA representatives, improving efficiency in the distribution of life insurance and investment products, and promoting a culture of fair dealing in Singapore.
Consultation number:
P004-2013
Start date:
05 March 2013
Closing date:
04 June 2013
MAS response date:
30 September 2013
Governs the regulation of financial advisers in Singapore, including their representatives and supervisors.