Guidelines on Fit and Proper Criteria [FSG-G01]
These guidelines set out the fit and proper criteria that apply to all relevant persons carrying out any activity regulated by MAS. The relevant person is expected to be competent, honest, to have integrity and to be of sound financial standing.
The guidelines cover:
- Definitions of 'relevant persons' and scope of application.
- Criteria for considering if a relevant person is fit and proper.
Amendment Notes
- 03 Sep 2015
- Previous version last revised on 03 September 2015 (201 KB) [Cancelled]
- 06 Mar 2014
- Previous version last revised on 06 March 2014 [Cancelled]
- 17 Jan 2012
- Previous version last revised on 17 January 2012 (175.3 KB) [Cancelled]
- 26 Nov 2010
- Previous version last revised on 26 November 2010 (150 KB) [Cancelled]
Related to this Item
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FAQsLast Revised Date: 23 March 2023
FAQs on Exempt Persons
Provides guidance on regulatory requirements that an exempt financial adviser serving up to not more than 30 accredited investors or an exempt corporate finance adviser is expected to comply with, including criteria for exemption, form for lodgement as an exempt person and ongoing regulatory requirements.
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Subsidiary LegislationPublished Date: 29 June 2022
Financial Holding Companies (Corporate Governance of Designated Financial Holding Companies with Licensed Insurer Subsidiary) Regulations 2022
Corporate governance requirements for designated financial holding companies that has a subsidiary that is a licensed insurer incorporated, formed or established in Singapore (“DFHC (Licensed Insurer)), including the independence of directors, composition of the board of directors and board committees, and their responsibilities.
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Subsidiary LegislationPublished Date: 29 June 2022
Financial Holding Companies (Corporate Governance of Designated Financial Holding Companies with Bank Subsidiary) Regulations 2022
Requirements for designated financial holding companies with a subsidiary that is a bank incorporated in Singapore.
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NoticesPublished Date: 29 June 2022
Notice FHC-N106 Appointment of Director, Chairperson, Member of Nominating Committee, and Key Executive Person
Requirements and guidelines on the appointment of director, chairperson and key executive person for designated financial holding companies that has a subsidiary that is a licensed insurer incorporated, formed or established in Singapore (“DFHC (Licensed Insurer”)).
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NoticesLast Revised Date: 08 November 2021
Notice 502 Minimum Standards and Continuing Professional Development for Insurance Brokers and their Broking Staff
Requirements and best practice standards on continuing professional development for insurance brokers and their broking staff.
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GuidelinesLast Revised Date: 08 October 2021
Criteria for the Registration of an Insurance Broker [IA/II-G04]
Guidelines on the criteria and procedures for registration as an insurance broker.
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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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Forms and TemplatesLast Revised Date: 07 October 2021
Form 1 - Application for a Trust Business Licence under Section 4
Form for entities to apply for a trust business licence under the Trust Companies Act.
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CircularsPublished Date: 24 September 2021
ID 14/21 Amendments to MAS Notice 106
Informs insurers of the amendments to MAS Notice 106
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NoticesLast Revised Date: 24 September 2021
MAS 106 Appointment of Director, Chairman, Member of Nominating Committee, and Key Executive Person for Insurers
Requirements and guidelines for licensed insurers on the appointment of director, chairman and key executive person.
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DirectivesLast Revised Date: 01 July 2021
Directive 20 Disqualification of Directors and Employees of Merchant Banks [Cancelled]
Requirement for disqualified directors and employees of all merchant banks to seek MAS’ written consent to continue their appointment or employment in the merchant bank.
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DirectivesLast Revised Date: 01 July 2021
Directive 19 Offences by Directors, Employees and Agents [Cancelled]
Requirement for directors, employees and agents of all merchant banks to not wilfully make a false entry, omit to make an entry, or alter, conceal or destroy an entry in any books, statements or records of the merchant bank.
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DirectivesLast Revised Date: 01 July 2021
Directive 18 Offences by Directors and Chief Executives of Merchant Banks [Cancelled]
Requirement for directors and chief executives of all merchant banks to take all reasonable steps to secure compliance with MAS regulations and accuracy of statements submitted to MAS.
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NoticesLast Revised Date: 29 June 2021
Notice 1011 Appointment of Chief Executives [Cancelled]
Requirements for all merchant banks on the appointment of chief executive and deputy chief executive.
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NoticesLast Revised Date: 28 June 2021
Notice 1102 Register of Dealers
Requirements for merchant banks on register of dealers.
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NoticesLast Revised Date: 11 June 2021
Notice 753 Register of Dealers
Requirements for banks on register of dealers.
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Forms and TemplatesLast Revised Date: 10 May 2021
Form 3 - Application for Approval of Controller under Section 17(1)
Form for a person to apply to become a controller of a licensed trust company.
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Forms and TemplatesLast Revised Date: 06 May 2021
Form 4 - Appointment of Resident Manager or Director under Section 13 and Regulation 9
Form for licensed trust companies to apply for the appointment of a resident manager or director.
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Forms and TemplatesLast Revised Date: 04 May 2021
Application for Appointment of Broking Staff
Form for registered insurance brokers to submit to MAS for the appointment of broking staff.
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Forms and TemplatesLast Revised Date: 04 May 2021
Application for Registration as an Insurance Broker
Application for Registration as an Insurance Broker.
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Forms and TemplatesLast Revised Date: 04 May 2021
Application for Appointment of Chief Executive Officer or Director under Section 35ZJ of the Insurance Act (CAP. 142)
Form for registered insurance brokers to apply for the appointment of a Chief Executive Officer or Director.
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NoticesLast Revised Date: 03 June 2019
Notice 622A Appointment of Chief Executives of Branches of Banks Incorporated Outside Singapore [Cancelled]
Requirements for banks incorporated outside Singapore on the appointment of chief executive and deputy chief executive. This notice was cancelled with effect from 03 June 2019.
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CircularsPublished Date: 08 October 2018
CMI 01/2011 Due Diligence Checks and Documentation in Respect of the Appointment of Appointed, Provisional, and Temporary Representatives
This circular applies to capital markets services licensees, banks, merchant banks, finance companies, insurers and financial advisers. It sets out the requirements on due diligence checks and documentation relevant to the fit and proper certification of their representatives.
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RegulationsLast Revised Date: 14 August 2018
Trust Companies Regulations
Set out requirements for licensing, financial resources and conduct of business requirements for licensed trust companies.
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GuidelinesPublished Date: 24 August 2010
Guidelines on Criteria for the Grant of a Trust Business Licence [TCA-G02]
How to qualify to be a licensed trust company
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NoticesLast Revised Date: 07 September 2007
Notice 817 Appointment of Directors and Chief Executives
Requirements for all finance companies on the appointment of chief executive, deputy chief executive, chief financial officer and directors.
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Subsidiary LegislationPublished Date: 05 September 2005
Banking (Corporate Governance) Regulations 2005
Corporate governance requirements for banks and financial holding companies, including the composition of the board of directors and board committees, and separation of roles for the Chairman of the Board and Chief Executive Officer.