Regulatory Alerts2021-10-08
Added · Updated
Notice SFA 04-N18 on Requirements in relation to Cross-Border Arrangements under the Securities and Futures (Exemption for Cross-Border Arrangements) (Foreign Offices) Regulations 2021
The Monetary Authority of Singapore issues this notice to impose ongoing regulatory requirements on specified licence holders and exempt persons conducting qualifying businesses through foreign offices under cross-border arrangements. The regulations mandate strict restrictions on corporate finance advice involving public companies or prospectus offers, while requiring robust internal controls including detailed record-keeping and written policies for foreign representatives. Entities must also comply with specific notification deadlines for initiating, changing, or ceasing arrangements, alongside annual declarations to mitigate associated risks.
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