Securities and Futures (Amendment) Bill 2005 and
the Financial Advisers (Amendment) Bill 2005 were
passed by Parliament in January 2005. MAS subsequently
issued Subsidiary Legislation and Guidelines operationalising
these amendments in the second half of 2005, after
taking into account feedback received in the course
of public consultations.
These amendments were aimed at strengthening
the market and disclosure-based regulatory approach
underpinning the Securities and Futures Act (SFA)
and the Financial Advisors Act (FAA), enhancing
confidence in our markets, and encouraging continued
innovation and growth.
Some of the Regulations and Guidelines issued were: