Merchant Banks

Merchant banks are approved under the Monetary Authority of Singapore Act and their operations are governed by the Merchant Bank Directives. Their ACU operations are also subjected to the Banking Act.

Merchant Banks operate within the Guidelines for Operation of Merchant Banks. Their typical activities include corporate finance, underwriting of share and bond issues, mergers and acquisitions, portfolio investment management, management consultancy and other fee-based activities. Most merchant banks have, with MAS' approval, established ACUs to transact in the Asian Dollar Market. For the latest number of merchant banks in Singapore, please refer to this link to the Financial Institutions Directory.

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Date Title
18 Dec 1987 Directive 31 Trust AccountsDirectives
18 Dec 1987 Directive 32 Exempt Merchant Bank Government Securities DealerDirectives
03 Mar 1999 Directive 33 Financial StatementsDirectives
01 Nov 1985 Directive 4 Amendment of Merchant Bank's ConstitutionDirectives
11 Mar 2005 Directive 5 Provision for Bad and Doubtful DebtsDirectives
01 Nov 1985 Directive 6 Information to be Furnished by Merchant BanksDirectives
01 Nov 1985 Directive 7 Credit Facilities to Directors, Related Corporations, etcDirectives
01 Nov 1985 Directive 8 Credit Facilities and LimitsDirectives
20 Jan 2000 FSG 02/2000: Posting of Financial Product Information On Third Party Internet Websites [Cancelled with effect from 15 Mar 2004]Circulars
22 Oct 2013 FSG Circular No. BD 08/2013: Conduct of Renminbi ("RMB") Business in SingaporeCirculars
30 Jun 2013 Guide to Conduct and Market Practice in Foreign Exchange and Currency Deposit TransactionsGuidelines
06 Sep 2011 Guidelines for Financial Institutions to Safeguard the Integrity of Singapore's Financial SystemGuidelines
19 Mar 2007 Guidelines for Operation of Merchant BanksGuidelines
01 Dec 2005 Guidelines on Definition of a "Deposit"Guidelines
07 Aug 2012 Guidelines on Fit and Proper Criteria [Guideline No. FSG-G01]Guidelines

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Last Modified on 26/11/2016