Regulatory Alerts2021-09-27
Added
Notice SFA 04-N13 Risk Based Capital Adequacy Requirements for CMS Licensees
The Monetary Authority of Singapore issues this notice to establish the methodology for calculating financial resources and total risk requirements for capital markets services licensees. It mandates compliance with specific capital adequacy standards under the Securities and Futures Regulations, excluding credit rating agencies and venture capital fund managers. The document further provides detailed guidance on the submission of various financial returns, auditor certifications, and supplementary information forms to ensure ongoing regulatory compliance.
Notices
Last Revised Date: 27 September 2021
Notice SFA 04-N13 Risk Based Capital Adequacy Requirements for Holders of Capital Markets Services Licences
How to comply with risk based capital adequacy requirements.
Capital and Financial Resources
Financial Returns
Issued pursuant to:
Securities and Futures (Financial and Margin Requirements for Holders of Capital Markets Services Licences) Regulations section 2B
, section 5A
and section 6
.
Applies to:
Dealing in Capital Markets Products
,
Product Financing
,
Providing Custodial Services
,
Licensed Fund Management Company
,
Corporate Finance Advisory
,
REIT Management
,
Securities Crowdfunding
View Notice
Notice SFA 04-N13 Risk Based Capital Adequacy Requirements for Holders of Capital Markets Services Licences
(1.01 MB)
This notice applies to capital markets services (CMS) licensees, except CMS licensees that are credit rating agencies or venture capital fund managers.
Sets out the methodology for calculation of:
Financial resources or adjusted net head office funds, whichever is applicable; and
Total risk requirements.
28 Sep 2021
Notice SFA04-N13 (Amendment No. 2) 2021
(155.9 KB) takes effect.
01 Jul 2021
Notice SFA04-N13 (Amendment) 2021 (1.61 MB) takes effect.
08 Oct 2018
Notice SFA04-N13 (Amendment) 2018 (1.47 MB) takes effect.
20 Oct 2017
Notice SFA04-N13 (Amendment) 2017 (149.3 KB) takes effect.
01 Nov 2016
Notice SFA04-N13 (Amendment) 2016 (22.9 KB) takes effect.
06 Mar 2014
Notice SFA04-N13 (Amendment) 2014 (101.7 KB) takes effect.
This set of FAQs aims to guide and assist capital markets services licensees in complying with the risk based capital adequacy requirements under the Securities and Futures (Financial and Margin Requirements) Regulations and the Notice on Risk Based Capital Adequacy Requirements for Holders of Capital Markets Services Licences.
Form for capital markets services licensees providing product financing to provide information on margin exposures to various approved exchanges. This form must be submitted within 14 days from the end of each quarter.
How to qualify to be and conduct your business as a fund manager.
How to qualify to be a CMS licensee (other than a fund manager or REIT manager).
Form for capital markets services licensees to submit their auditor's certifications on their audited financial statement. This form must be submitted within five months from the end of the financial year.
Form for capital markets services licensees to submit their auditor's reports on their businesses. This form must be submitted within five months from the end of the financial year.
How to qualify to be a REIT manager and what ongoing governance and compliance arrangements are expected.
Provides guidance on the requirements and procedures relating to the lodgement of financial returns by capital markets services licensees.
Form for capital markets services licensees to provide a breakdown of their financial resources, total risk requirement and aggregate indebtedness. This form must be submitted within 14 days from the end of each quarter, and within five months from the end of the financial year.
This version is for submissions in respect of any quarter or financial year ending after 31 December 2018.
Form for capital markets services licensees to submit supplementary information on their annual balance sheet and profit and loss accounts. This form must be submitted within five months from the end of the financial year.
Form for capital markets services licensees to provide a breakdown of their assets and liabilities. This form must be submitted within 14 days from the end of each quarter, and within five months from the end of the financial year. This version is for submissions in respect of any quarter or financial year ending after 31 December 2018.
Form for capital markets services licensees to submit their audited annual profit and loss accounts to MAS. This form must be submitted within five months from the end of the financial year.
This version is for submissions in respect of any quarter or financial year ending after 31 December 2018.
Form for capital markets services licensees providing product financing to provide information on their exposures to specified products. This form must be submitted within 14 days from the end of each quarter.
Form for capital markets services licensees providing product financing to provide information on their exposures to margin customers. This form must be submitted within 14 days from the end of each quarter.
Sets out the minimum capital and financial resources, and other financial and margin requirements.
Consultation on proposed (i) new Notice and Guidelines on Risk Fact Sheet for Contracts for Differences; (ii) amendments to Notice on Risk-Based Capital Adequacy Requirements; (iii) amendments to Notices relating to the lending of Singapore dollar to non-resident financial institutions; and (iv) new guidelines on statutory definition of common investors pertaining to insider trading.
Consultation number:
P018 - 2017
Start date:
06 October 2017
Closing date:
03 November 2017
MAS response date:
01 October 2018
Proposal to enhance and align regulatory capital requirements across CMS licenses conducting different regulated activities.
Consultation number:
P007 - 2012
Start date:
03 April 2012
Closing date:
03 May 2012
MAS response date:
02 April 2013
Specifies how counterparty risk requirements should be computed for specified structured warrants. The guidelines are not applicable to capital computations after 3 April 2015 and financial returns after 1 July 2015.
Specify the qualifying deposits from certain entities which are carved out from the computation of counterparty exposure. The guidelines are not applicable to capital computations after 3 April 2015 and financial returns after 1 July 2015.
Form for capital markets services licensees to provide a breakdown of their financial resources, total risk requirement and aggregate indebtedness. This form must be submitted within 14 days from the end of each quarter, and within five months from the end of the financial year.
This version is for submissions in respect of any quarter or financial year ending before or on 31 December 2018.
Form for capital markets services licensees to provide a breakdown of their assets and liabilities. The form must be submitted within 14 days from the end of each quarter, and within five months from the end of the financial year.
This version is for submissions in respect of any quarter or financial year ending before or on 31 December 2018.
Form for capital markets services licensees to submit their audited annual profit and loss accounts to MAS. This form must be submitted within five months from the end of the financial year. This version is for submissions in respect of any quarter or financial year ending before or on 31 December 2018.