Guidelines
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.
Applies to:
REIT Management
These guidelines set out the minimum licensing criteria for real estate investment trust (REIT) managers, and additional guidance on corporate governance arrangements to facilitate their compliance with applicable rules and regulations.
This form should be lodged online via FormSG . After submission, FIs may view a record of their submission by logging into MAS-Tx.
Related to this Item
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FAQsLast Revised Date: 13 September 2023
FAQs on Licensing and Business Conduct (Other than for Fund Management Companies)
Provides guidance on • the scope of capital markets services licensing (other than for fund management companies) • appointment of representatives • business conduct rules • the application of the SFA and SF(LCB)R to banks, merchant banks, finance companies and insurers.
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Forms and TemplatesLast Revised Date: 18 August 2023
Form 3A - Notification for Appointment of an Appointed Representative
Form for licensed financial advisers, capital markets services licensees, banks, merchant banks, finance companies and insurers to notify MAS of the appointment of representatives.
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CodesLast Revised Date: 23 May 2023
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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CodesLast Revised Date: 11 January 2023
Code of Corporate Governance
The Code of Corporate Governance (the "Code") came under the purview of MAS and SGX with effect from 1 September 2007.
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Forms and TemplatesLast Revised Date: 28 March 2022
Form 1 - Application for a Capital Markets Services Licence (Other than for a Fund Management Company)
Form for entities (other than fund management companies to apply for a capital markets services licence to conduct regulated activities under the Securities and Futures Act. Fund management companies should submit Form 1A, 1V or 22A, depending on the type and scope of their fund management activities.
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GuidelinesLast Revised Date: 08 October 2021
Guidelines on Licence Applications, Representative Notification and Payment of Fees [CMG-G01]
Guidelines on procedures to apply for a Capital Markets Services or Financial Advisory licence, appoint representatives and pay fees.
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NoticesLast Revised Date: 27 September 2021
Notice SFA 04-N13 Risk Based Capital Adequacy Requirements for Holders of Capital Markets Services Licences
How to comply with risk based capital adequacy requirements.
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Forms and TemplatesLast Revised Date: 11 May 2021
Application for Approval to obtain Effective Control of Holder of Capital Markets Services Licence under Section 97A(2) of the Securities and Futures Act
Form for potential acquirers to seek MAS' approval for obtaining effective control of capital markets services licensees.
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Forms and TemplatesLast Revised Date: 06 May 2021
Form 11 - Appointment of Chief Executive Officer or Director / Change of Director's Nature of Appointment from Non-Executive to Executive
Form for capital markets services licensees, other than licensed fund management companies, to apply for the appointment of a Chief Executive Officer or director; or the change in nature of director appointment from non-executive to executive.
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RegulationsLast Revised Date: 08 October 2018
Securities And Futures (Financial And Margin Requirements For Holders Of Capital Markets Services Licences) Regulations
Sets out the minimum capital and financial resources, and other financial and margin requirements.
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RegulationsLast Revised Date: 08 October 2018
Securities and Futures (Licensing And Conduct Of Business) Regulations
Sets out requirements for licensing, representative notification and conduct of business, and criteria for exemptions from licensing.
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NoticesPublished Date: 01 January 2016
Notice SFA 04-N14 to All Holders of a Capital Markets Services Licence for Real Estate Investment Trust Management
Requirements on REIT managers' board and governance, and remuneration for key personnel.
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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
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RegulationsPublished Date: 23 May 2002
Securities and Futures (Opportunity to be Heard) Regulations
Provides for a person to be given an opportunity to be heard by MAS and to be given at least 10 days to submit any written supporting documents as to why MAS should reconsider the decision it intends to make.