Regulatory Alerts2018-10-08
Added
Securities and Futures (Financial and Margin Requirements for Holders of Capital Markets Services Licences) (Amendment) Regulations 2016
The Monetary Authority of Singapore issued the Securities and Futures (Financial and Margin Requirements for Holders of Capital Markets Services Licences) (Amendment) Regulations 2016 to amend the financial capital requirements for Capital Markets Services licence applicants. These regulations introduce a new $50,000 minimum paid-up capital threshold for applicants who do not carry customer positions in their own books, trade exclusively with accredited or institutional investors, and do not deal as principal or accept customer funds for settlement. The amendments also update the regulatory table by inserting specific conditions for securities and futures dealing activities to clarify the eligibility criteria for this reduced capital requirement.