Events listed in Singapore
Income Tax (Amendment) Bill
ID 24969
The latest Income Tax (Amendment) Bill was published on Singapore Statutes Online, the country’s online platform for publicizing legal texts. Most provisions of the bill are rather irrelevant for financial market participants. However, there are a few provisions relating to the financial market which we would like to point out: **(1) The bill provides for the treatment for income derived from a cover pool ...
United Nations (Sanctions — Haiti) Regulations 2023
ID 24931
The United Nations (Sanctions — Haiti) Regulations 2023 have been published on Singapore Statutes Online, the official journal of Singapore. The regulations implement Resolution 2653 (2022) of the United Nations to lay out a sanctions framework regarding Haiti in view of continuing human rights abuses, violence, and a deteriorating political situation in the country. The regulations, which do not apply to certain financial institutions ...
FAQs on Licensing and Business Conduct (Other than for Fund Management Companies)
ID 24925
The Monetary Authority of Singapore, MAS, has published updated frequently asked questions (FAQs) on the licensing and business conduct of financial market participants other than fund management companies. The FAQs provide guidance to numerous market participants, including venture capital funds, investment trusts, exempt OTC derivatives brokers, and certain (other) Capital Market Service (CMS) license holders with respect to the scope of a CMS license, ...
Consultation Paper on Proposed Exemptions for Approved Exchange and Recognised ...
ID 24884
Following a public consultation in July 2022 as regards a proposed exemption for an approved exchange (AE) or recognized market operator (RMO) that provides certain clearing and settlement services from being regulated as an approved clearing house (ACH) or recognized clearing house (RCH) and thus from being subject to corresponding regulations under the Securities and Futures Act (please see EventID 16676 in this context), ...
Financial Advisers (Exemption for Cross-Border Arrangements) (Foreign Related ...
ID 24875
On September 7, 2023, the Financial Advisers (Exemption for Cross-Border Arrangements) (Foreign Related Corporations) (Amendment No. 2) Regulations 2023 were published on Singapore Statutes Online, the official journal of Singapore. The regulations modify Regulation 2 and 6 of the Financial Advisers (Exemption for Cross-Border Arrangements) (Foreign Related Corporations) Regulations 2021 as follows: (1) In regulation 2 pertaining to „definitions“, the definition o ...
Securities and Futures (Classes of Investors) (Amendment) Regulations 2023
ID 24873
On September 7, 2023, the Securities and Futures (Classes of Investors) (Amendment) Regulations 2023 were published on Singapore Statutes Online, the official journal of Singapore. The regulations modify Regulation 3 of the Securities and Futures (Classes of Investors) Regulations 2018 to – update the heading of referenced regulations („Act and Securities and Futures (Licensing and Conduct of Business) Regulations“) and update specific references; and ...
Financial Advisers (Exemption for Cross-Border Arrangements) (Foreign Offices) ...
ID 24862
On September 7, 2023, the Financial Advisers (Exemption for Cross-Border Arrangements) (Foreign Offices) (Amendment No. 2) Regulations 2023 were published on Singapore Statutes Online, the official journal of Singapore. The regulations modify Regulation 2 and 8 of the Financial Advisers (Exemption for Cross-Border Arrangements) (Foreign Offices) Regulations 2021 as follows: (1) In regulation 2 pertaining to „definitions“, the definition of Accredited Investor is r ...
Securities and Futures (Exemption for Cross-Border Arrangements) (Foreign Related ...
ID 24861
On September 7, 2023, the Securities and Futures (Exemption for Cross-Border Arrangements) (Foreign Related Corporations) (Amendment No. 2) Regulations 2023 were published on Singapore Statutes Online, the official journal of Singapore. The regulations modify Regulation 6 of the Securities and Futures (Exemption for Cross-Border Arrangements) (Foreign Related Corporations) Regulations 2021 which sets out provisions for a Foreign Related Corporation (FRC) to be exempt from ...
Securities and Futures (Clearing Facilities of Approved Exchanges or Recognised ...
ID 24836
On September 5, 2023, the Securities and Futures (Clearing Facilities of Approved Exchanges or Recognised Market Operators) (Exemption) Regulations 2023 was published on Singapore Statutes Online, the official journal of Singapore. The regulations provide that approved exchanges or recognised market operators that establish or operate a „clearing facility“ are exempt from section 49(1) of the Securities and Futures Act 2001 subject to certain conditions. ...
Circular on ensuring effective detection of sanctions-related risks
ID 24782
In an effort to ensure that ALL Financial Institutions (FIs) in Singapore effectively detect and manage sanctions-related risks, thereby safeguarding the integrity of Singapore’s financial market, the Monetary Authority of Singapore (MAS) has published a corresponding new circular. In this circular, the Authority presents additional guidance FI’s should consider in the design of their processes to ensure adequate detection, management, and monitoring of such ...