1 The Securities and Futures Act ("SFA") was passed in Parliament on 5 Oct 2001 and assented to by the President on 17 Oct 2001. Under Parts II and III of the SFA, the MAS may make regulations pertaining to the approval or recognition of persons who establish or operate securities markets and/or futures markets, the approval of persons who establish or operate clearing facilities, as well as the requirements applicable to all such persons.
2 MAS has prepared a draft of the Securities and Futures regulations ('SFR') for Parts II and III of the SFA. The proposed SFR comprises provisions covering authorisation, governance and reporting requirements and administrative matters. A copy of the draft SFR and accompanying forms is attached.
3 MAS is currently in the process of consulting with relevant market participants on the provisions proposed under the draft SFR.
4 Please refer to Additional Documents below for the consultation papers of the regulations.