Financial Advisers (Exemption for Cross-Border Arrangements) (Foreign Offices) (Amendment) Regulations 2023

The new Financial Advisers (Exemption for Cross‑Border Arrangements) (Foreign Offices) (Amendment) Regulations 2023 were published on Singapore Statutes Online, the official online platform for publicizing legal documents. The regulations modify the Financial Advisers (Exemption for Cross‑Border Arrangements) (Foreign Offices) Regulations 2021, a supplementary regulation under the Financial Advisers Act, to make minor, primarily technical amendments.
Specifically, the 2023 regulations modify regulations 2, 4, 6, 7, and 8 of the 2021 regulations to replace and update outdated legal references following the revisions of the titles of all acts in Singapore last year, among others. Additionally, some legacy provisions have been removed, as they no longer apply (regulation 5 pertaining to the „Exemption for licensed financial advisers previously carrying on qualifying businesses providing certain financial advisory services in respect of specified OTC derivatives contracts through foreign offices under cross‑border arrangements, and their foreign representatives“).