Regulatory Alerts2021-10-08
Added · Updated
Guidelines on Licence Applications, Representative Notification and Payment of Fees
These Guidelines from the Monetary Authority of Singapore provide administrative procedures for companies and representatives seeking licences or appointments under the Securities and Futures Act and Financial Advisers Act. They detail the application processes for new capital markets services or financial adviser licences, adding regulated activities, and various representative notifications including appointment, activity changes, and cessation. The document also specifies how application, lodgment, and annual fees are computed and paid, including a late payment fee of $100 per day, up to a maximum of $3,000, for overdue payments by corporate licence holders and representatives. Corporate licence holders also incur a variable fee of $5 per representative from the 101st representative onwards as at 1 January of the calendar year.
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