Regulatory Alerts2024-04-01
Added
Notice SFA 04-N22 Competency Requirements for Representatives of Holders of Capital Markets Services Licence and Exempt Financial Institutions
The Monetary Authority of Singapore issued Notice SFA 04-N22 to establish minimum entry, examination, and continuing professional development requirements for appointed representatives of capital markets services licence holders and exempt financial institutions. This notice, effective 1 April 2024, supersedes the previous MAS Notice SFA 04-N09 and mandates that representatives pass specific Capital Markets and Financial Advisory Services Examination modules relevant to their regulated activities. It also outlines various exemptions from these exam requirements based on specific qualifications, prior experience, or the nature of the financial products and clients involved.
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