Securities and Futures (Exemption from Requirement to Hold Capital Markets Services Licence) Regulations

Regulations

Last Revised Date: 08 October 2018

Securities and Futures (Exemption from Requirement to Hold Capital Markets Services Licence) Regulations

Sets out exemption for Citibank Aktiengesellschaft and other persons (e.g. remote clearing members) from the requirement to hold a capital markets services licence for dealing in capital markets products, subject to conditions.

Licensing, Authorisation and Registration

Exemptions

Applies to:

Dealing in Capital Markets Products

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Securities and Futures (Exemption from Requirement to Hold Capital Markets Services Licence) Regulations

08 Oct 2018
Securities and Futures (Exemption from Requirement to Hold Capital Markets Services Licence) (Amendment) Regulations 2018

Provides guidance on

• the scope of capital markets services licensing (other than for fund management companies)
• appointment of representatives
• business conduct rules
• the application of the SFA and SF(LCB)R to banks, merchant banks, finance companies and insurers.

How to qualify to be a CMS licensee (other than a fund manager or REIT manager).

Sets out requirements for licensing, representative notification and conduct of business, and criteria for exemptions from licensing.

Proposed exemption from the capital markets services licensing requirement under the SFA for remote clearing members that clear futures contracts on Singapore-based central clearing counterparties.

Consultation number:

P007-2015

Start date:

24 April 2015

Closing date:

15 May 2015

MAS response date:

05 August 2016