Notice SFA 04-N09 Minimum Entry and Examination Requirements for Representatives of CMS Licensees and Exempt Financial Institutions under the SFA

Notices

Last Revised Date: 01 April 2024

Notice SFA 04-N09 Minimum Entry and Examination Requirements for Representatives of Holders of Capital Markets Services licence and Exempt Financial Institutions under the SFA [Cancelled]

How to qualify to be a representative, or appoint a representative, to conduct regulated activities under the Securities and Futures Act (SFA)

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Notice SFA 04-N09 Minimum Entry and Examination Requirements for Representatives of Holders of Capital Markets Services licence and Exempt Financial Institutions under the SFA [Cancelled]

(1.05 MB)

This notice applies to:

Individuals who act or hold themselves out to be representatives who carry out regulated activities.

Capital markets services (CMS) licensees.

Banks, merchant banks, finance companies and insurers who have appointed representatives conducting regulated activities under the SFA.

It sets out the entry, examination and continuing education requirements for representatives, and the obligations of the financial institutions regarding their representatives.

01 Apr 2024

MAS Notice SFA 04-N09 last revised on 8 April 2020 (1.05 MB) is cancelled.

08 Apr 2020

Notice SFA 04-N09 (Amendment) 2020 (1.05 MB) takes effect.

08 Oct 2018

Notice SFA 04-N09 (Amendment) 2018 (1.1 MB) takes effect.

20 Oct 2017

Notice SFA04-N09 (Amendment) 2017 (147.8 KB) takes effect.

07 Oct 2015

Notice SFA04-N09 (Amendment) 2015 (105.8 KB) takes effect.

10 Jun 2014

Notice SFA04-N09 (Amendment) 2014 (75.1 KB) takes effect.

07 Aug 2012

Notice SFA04-N09 (Amendment No. 3) 2012 (229.5 KB) takes effect.

04 Jun 2012

Notice SFA04-N09 (Amendment) (02) 2012 (341.2 KB) takes effect.

17 Jan 2012 Notice SFA04-N09 (Amendment) 2012 takes effect.

19 Oct 2011 Notice SFA04-N09 (Amendment) 2011 takes effect.

26 Nov 2010 Notice SFA04-N09 (Amendment) 2010 takes effect.

Form for licensed financial advisers and exempt financial advisers to notify MAS of the appointment of provisional representatives.

Form for licensed financial advisers, capital markets services licensees, banks, merchant banks, finance companies and insurers to notify MAS of the appointment of representatives.

Eligibility and ongoing requirements for representatives of Holders of Capital Markets Services Licence and Exempt Financial Institutions, including entry, CMFAS examination and continuing professional development requirements.

Provides guidance on the minimum academic and examination requirements as well as continuing education requirements for representatives of capital markets services licensees, banks, merchant banks, finance companies and insurers.

To consult on the draft notices on the competency requirements for representatives conducting regulated activities under the Financial Advisers Act and Securities and Futures Act.

Consultation number:

P006-2020

Start date:

04 September 2020

Closing date:

05 October 2020

MAS response date:

28 September 2023

This circular applies to capital markets services licensees, banks, merchant banks, finance companies, insurers and financial advisers. ​ It sets out the requirements on due diligence checks and documentation relevant to the fit and proper certification of their representatives.

Proposed enhancements to the examination framework for appointed representatives under the SFA and FAA, e.g. minimum academic qualifications under the Capital Markets and Financial Advisory Services Examination (CMFAS) and Continuing Professional Development (CPD) requirements.

Consultation number:

P015 - 2016

Start date:

12 December 2016

Closing date:

13 January 2017

MAS response date:

25 September 2017

Provides guidance on the mutual recognition of MAS and Thai SEC's product knowledge examinations in securities and collective investment schemes.

How to qualify to be or appoint provisional and temporary representatives.