Media Releases
 Published Date: 05 December 2006

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.