Securities and Futures (Exemption from Requirement to Hold Capital Markets Services Licence) (Amendment) Regulations 2023

The new Securities and Futures (Exemption from Requirement to Hold Capital Markets Services Licence) (Amendment) Regulations 2023 were published on Singapore Statutes Online, the official online platform for publicizing legal documents. The regulations modify the Securities and Futures (Exemption from Requirement to Hold Capital Markets Services Licence) Regulations of 2002, a supplementary regulation under the Securities and Futures Act, to make minor technical amendments only.
Specifically, the 2023 regulations modify regulations 1A and 3 of the 2002 regulations to replace and update outdated legal references following the revisions of the titles of all acts in Singapore last year and following the implementation of most provisions of the Financial Services and Markets Act 2022 on April 28, 2023. The changes are as follows (as quoted):
In regulation 1A(1), in the definition of “relevant offence” in paragraph (c)
(a) replace “the Banking Act (Cap. 19), the Commodity Trading Act (Cap. 48A), the Finance Companies Act (Cap. 108), the Financial Advisers Act (Cap. 110), the Insurance Act (Cap. 142), the Monetary Authority of Singapore Act (Cap. 186), the Payment Services Act 2019 (Act 2 of 2019), the Penal Code (Cap. 224)” with “the Banking Act 1970, the Commodity Trading Act 1992, the Finance Companies Act 1967, the Financial Advisers Act 2001, the Insurance Act 1966, the Monetary Authority of Singapore Act 1970, the Payment Services Act 2019, the Penal Code 1871”; and
(b) after “the Financial Advisers Act 2001,”, insert “the Financial Services and Markets Act 2022,”.
In regulation 3(3), replace “(Cap. 48A)” with “1992”.