Guidelines on Licensing, Registration and Conduct of Business for Fund Management Companies [SFA 04-G05]
How to qualify to be and conduct your business as a fund manager.
Codes
Code on Collective Investment Schemes
Sets out the best practices that managers, approved trustees, VCC directors and VCC custodians of collective investment schemes offered to retail public are expected to observe on management, operation and marketing of the schemes.
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Code on Collective Investment Schemes
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Related to this Item
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CircularsPublished Date: 30 September 2022
CFC 03/2022 Guidance on requirements that are applicable to Exchange Traded Funds participating in the SZSE-SGX ETF Link
This Circular provides guidance on the requirements that are applicable to a Singapore-constituted feeder ETF which intends to participate in the SZSE-SGX ETF Link.
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CircularsPublished Date: 28 July 2022
CFC 02/2022 Disclosure and Reporting Guidelines for Retail ESG Funds
This Circular sets out MAS’ expectations on how existing requirements under the Code on Collective Investment Schemes and the Securities and Futures (Offers of Investments) (Collective Investment Schemes) Regulations apply to retail ESG funds, and the disclosure and reporting guidelines applicable to these funds.
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CircularsPublished Date: 29 June 2022
CFC 01/2022 Appointment of same independent valuer for performing desktop valuation in respect of interim financial reporting under Financial Reporting Guidance 3
This circular waives the requirement under paragraph 8.3(e) of Appendix 6 to the Code on Collective Investment Schemes to facilitate the preparation of interim financial statements in accordance with Financial Reporting Guidance 3. In particular, a REIT may appoint a valuer who had valued a property of the REIT for the past two consecutive financial years to perform a desktop valuation of the same property for the purposes of interim financial reporting in the third financial year. More details can be found in the circular.
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CircularsPublished Date: 19 May 2022
CMI 13/2021 Reporting of Significant Redemption, Gating and Suspension of Funds
This circular sets out the reporting requirements for significant redemption, gating and suspension of funds by licensed and registered fund management companies.
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GuidelinesLast Revised Date: 20 December 2021
Guidelines to All Holders of a Capital Markets Services Licence for Real Estate Investment Trust Management [SFA 04-G07]
How to qualify to be a REIT manager and what ongoing governance and compliance arrangements are expected.
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Forms and TemplatesLast Revised Date: 07 October 2021
Form 3 - Application for Approval to Act as a Trustee for Collective Investment Schemes under Section 289(1)
Form for entities applying to be a trustee for an authorised collective investment scheme.
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CircularsPublished Date: 26 August 2020
CFC 02/2020 Modification to the Single Entity Limit for Country-Specific Government Bond Funds
This circular modifies the single entity limit in the Code on Collective Investment Schemes (“Code”) in relation to country-specific government bond funds. In particular, the minimum credit rating requirement under Paragraph 2.6(a) of Appendix 1 of the Code is lowered to investment-grade, i.e., BBB by Fitch, Baa by Moody’s or BBB by Standard and Poor’s (including such sub-categories or gradations therein), provided certain conditions are met. More details can be found in the circular.
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CircularsPublished Date: 27 July 2020
CMI 32/2020 Good Practices for Disclosure of Actively Managed Funds
This circular sets out good disclosure practices for actively managed funds, following a thematic review carried out by the Monetary Authority of Singapore (MAS) on equity funds offered to retail investors. These good practices relate to disclosures of the investment objective and the extent to which the portfolio deviates, or can deviate from the reference benchmark, as measured in part by quantitative metrics such as active share and tracking error.
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ExplainersPublished Date: 13 March 2020
CIS Practitioner's Guide
Information for issuers and their professional advisers on offers of collective investment schemes in Singapore.
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ConsultationsLast Revised Date: 15 January 2020
Consultation Paper on the Proposed Framework for Variable Capital Companies Part 2
This consultation sets out MAS' proposed subsidiary legislation for a new corporate structure that is tailored for collective investment schemes, known as the variable capital company (VCC).
- Start date:
- 30 April 2019
- Closing date:
- 30 May 2019
- MAS response date:
- 15 January 2020
- Status:
- Responded
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ConsultationsPublished Date: 02 July 2019
Consultation Paper on Proposed Amendments to the Requirements for REITs
This consultation sets out MAS's proposed amendments to the Code on Collective Investment Schemes to provide Singapore’s REITs with more flexibility to manage their capital structure and to streamline the fundraising process for REITs.
- Consultation number:
- P011-2019
- Start date:
- 02 July 2019
- Closing date:
- 01 August 2019
- MAS response date:
- 29 May 2020
- Status:
- Responded
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GuidelinesPublished Date: 16 August 2018
Guidelines on Liquidity Risk Management Practices for Fund Management Companies [SFA 04-G08]
Guides fund managers on sound liquidity risk management practices in fund structures.
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ConsultationsPublished Date: 26 October 2017
Consultation Paper on Liquidity Risk Management Framework for Fund Management Companies
Proposed guidance on sound practices in managing liquidity risks in CIS. The paper also proposed additional portfolio requirements for money market funds to enhance resilience to liquidity risks and ability to meet redemption requests during stressed market conditions.
- Consultation number:
- P019 - 2017
- Start date:
- 26 October 2017
- Closing date:
- 27 November 2017
- MAS response date:
- 16 August 2018
- Status:
- Responded
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ConsultationsPublished Date: 23 March 2017
Consultation Paper on the Proposed Framework for Singapore Variable Capital Companies
- Consultation number:
- P006 2017
- Start date:
- 23 March 2017
- Closing date:
- 24 April 2017
- MAS response date:
- 10 September 2018
- Status:
- Responded
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ConsultationsPublished Date: 10 November 2016
Consultation Paper on Proposed Amendments to the Code on Collective Investment Schemes
Proposed amendments to the Code on Collective Investment Schemes to provide specific rules for funds that invest in precious funds; and enhance and refine the regulatory framework to (i) enhance transparency and market discipline; (ii) improve operational effectiveness and (iii) provide greater clarity to market practitioners.
- Consultation number:
- P014 - 2016
- Start date:
- 10 November 2016
- Closing date:
- 12 December 2016
- MAS response date:
- 15 December 2017
- Status:
- Responded
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RegulationsPublished Date: 02 January 2015
Securities And Futures (Offers Of Investments) (Collective Investment Schemes) Regulations 2005 (G.N. No. S 602/2005)
Sets out the requirements for an offer of units in a collective investment scheme, including amongst others, covenants to be included in the trust deed, the prescribed contents in a prospectus, advertising requirements, and restricted schemes.
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ConsultationsPublished Date: 09 October 2014
Consultation Paper on Enhancements to the Regulatory Regime Governing REITs and REIT Managers
Proposals to the REIT regime to foster stronger governance practices and greater alignment of interests, while providing REITs with more operational flexibility to enhance their portfolio to deliver stronger performance.
- Consultation number:
- P023-2014
- Start date:
- 09 October 2014
- Closing date:
- 10 November 2014
- MAS response date:
- 02 July 2015
- Status:
- Responded
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ConsultationsPublished Date: 17 May 2010
Consultation Paper on Amendments to the Code on Collective Investment Schemes 2010
Proposed amendments to the CIS Code, in particular, the investment guidelines, to ensure that the regulatory regime for collective investment schemes keep pace with product innovation and industry developments.
- Consultation number:
- P009 - 2010
- Start date:
- 17 May 2010
- Closing date:
- 17 June 2010
- MAS response date:
- 08 April 2011
- Status:
- Responded
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CircularsPublished Date: 09 January 2009
REITS: Treatment of Refinancing Under The Aggregate Leverage Limit
Information regarding the treatment of refinancing under the borrowing limits in the Property Fund Guidelines under Appendix 2 of the Code on Collective Investment Schemes.