Launch of Notification Platform for Restricted Schemes



MAS is pleased to announce the launch of CISNet, an online notification platform that allows fund managers or their appointed agents to notify the MAS of their intention to offer collective investment schemes (otherwise known as "restricted schemes") to accredited investors and other investors under section 305 of the Securities and Futures Act and the 6th Schedule of the Securities and Futures (Offers of Investments) (Collective Investment Schemes) Regulations ("SFR"). CISNet will also allow fund managers or their appointed agents to update MAS of changes to the particulars of their restricted schemes. This launch is scheduled for 1 October 2009.

2   The proposed amendments to the 6th Schedule of the SFR will also come into force on 1 October 2009.  For more information on these amendments, please refer to our consultation paper dated 29 May 2009 and our response to feedback received dated 28 July 2009, available at the following website:
http://www.mas.gov.sg/publications/consult_papers/Reports_and_Consultation_Papers.html

3   As a transition to the new system, we will not be accepting applications for restricted schemes from 18 to 30 September 2009.  All applications received up to 17th September 2009 will be processed and  offerors informed of the outcome by 30 September 2009.  Managers who wish to submit applications after 17 September 2009 may make a notification using the new system from 1 October 2009, which will be effective  within 2 working days if the notification meets the requirements and is accompanied by a successful payment.  A user guide to CISNet will be made available shortly.

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Last Modified on 26/11/2016