Overview
MAS regulates the activities of capital market entities under the Securities and Futures Act (SFA), Trust Companies Act (TCA) or Financial Advisers Act (FAA).
Find out how each type of capital markets entity may be regulated in the following table:
Entity | Governing Act | Licensing and Registration |
---|---|---|
|
SFA |
Capital markets services (CMS) licence |
Fund managers | SFA | Fund management licensing and registration |
Approved Collective Investment Schemes (CIS) trustees | SFA | Approved CIS trustees |
Markets and exchanges | SFA | Approved exchange (AEs) or recognised market operator (RMOs) licence |
Clearing houses | SFA | Approved clearing houses (ACHs) or recognised clearing house (RCHs) licence |
Trade repositories | SFA | Trade repository or foreign trade repository licence |
Benchmark administrators and submitters | SFA | Authorisation by MAS as a benchmark administrator (ABA), authorised benchmark submitter (ABS) or designated benchmark submitter (DBS) |
Licensed trust companies | TCA | Trust business licence |
Financial advisers | FAA | Financial adviser's licence |