Regulatory Alerts2021-06-11
Added
Notice 753 Register of Dealers
The Monetary Authority of Singapore issued Notice 753 to establish requirements for all banks regarding the maintenance of their dealer registers. Banks are mandated to inform the regulator of any new appointments, departures, or re-designations of dealers, as well as immediate notifications for terminations due to misconduct. These obligations apply to full and wholesale banks, with significant amendments taking effect on July 1, 2021.
Notices
Last Revised Date: 11 June 2021
Notice 753 Register of Dealers
Requirements for banks on register of dealers.
Fit and Proper Criteria
Issued pursuant to:
Banking Act (Cap. 19) section 55
Applies to:
Full Bank (Locally Incorporated)
,
Full Bank (Branch)
,
Wholesale Bank (Branch)
,
Wholesale Bank (Locally Incorporated)
View Notice
Notice 753 Register of Dealers
(415.9 KB)
This notice applies to all banks. It sets out requirements for banks to:
Inform MAS of any new appointment, departure or re-designation of its dealers.
Inform MAS immediately when any dealer is terminated due to misconduct.
1 Jul 2021 MAS Notice 753 (Amendment) 2021 (504.1 KB) takes effect.
7 Sep 2007 MAS Notice 753 dated 7 September 2007 takes effect.
7 Sep 2007 MAS Notice 753 dated 4 January 2005 is cancelled.
Guidelines on fit and proper criteria for all relevant persons carrying out any activity regulated by MAS.