Regulatory Alerts2025-01-24
Added
Notice SFA 04-N11 Reporting of Misconduct of Representatives by Holders of Capital Markets Services Licence and Exempt Financial Institutions
The Monetary Authority of Singapore mandates that Capital Markets Services licence holders and exempt financial institutions report misconduct by their representatives, including fraud, market conduct violations, and fit and proper failures. These entities must submit detailed Misconduct Reports and periodic Update Reports via MASNET within 14 days of discovery, while also maintaining internal investigation records and implementing appropriate disciplinary actions. If no reportable misconduct occurs during a calendar year, the institution must file a Nil Return declaration by 14 days after 31 December.
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