MAS Invites Comments on Proposed Changes to the Securities and Futures Act and the Financial Advisers Act
Singapore, 5 December 2006...The Monetary Authority of Singapore (MAS) has released a policy consultation paper on proposed amendments to the Securities and Futures Act (SFA) and the Financial Advisers Act (FAA). This is the second in a series of policy consultations MAS is conducting following a review of the SFA and FAA.
2 This paper sets out the proposed amendments to five broad areas and highlights other drafting amendments. The five broad areas are:
(a) Markets and clearing houses; (b) Licensing and business conduct rules; (c) Fidelity funds of securities and futures exchanges; (d) Market misconduct enforcement framework; and (e) Regulation of offers of investments.
3 MAS will take into consideration comments received for this consultation and subsequent consultation(s) in preparing the relevant Amendment Bills.
4 Interested parties should forward their comments on the proposals in the consultation paper by 16 January 2007. The consultation paper is posted on the MAS website.