Guidelines on Fit and Proper Criteria [FSG-G01]

Guidelines on fit and proper criteria for all relevant persons carrying out any activity regulated by MAS.
Applies to: Full Bank (Locally Incorporated) , Full Bank (Branch) , Wholesale Bank (Branch) , Wholesale Bank (Locally Incorporated) , Finance Company , Merchant Bank (Locally Incorporated) , Merchant Bank (Branch) , Credit/Charge Card Issuer , Direct Insurer (Life) , Direct Insurer (General) , Direct Insurer (Composite) , Reinsurer (Life) , Reinsurer (General) , Reinsurer (Composite) , Captive Insurer , Lloyd's Asia Scheme , Authorised Reinsurer , Dealing in Capital Markets Products , Product Financing , Licensed Fund Management Company , Corporate Finance Advisory , REIT Management , Registered Fund Management Company , Credit Rating Agency , Securities Crowdfunding , Venture Capital Fund Management Company , Exempt Futures Broker , Exempt OTC Derivatives Broker , Providing Custodial Services , Exempt Corporate Finance Adviser Serving Accredited Investors , Licensed Financial Adviser , Exempt Financial Adviser , Exempt Financial Adviser Serving up to 30 Accredited Investors , Registered Insurance Broker , Exempt Insurance Broker , Approved Insurance Broker , Exempt Trust Company , Licensed Trust Company , Exempt Person Providing Trust Services , Approved CIS Trustee , Markets and Exchanges , Clearing House , Trade Repository , Benchmark Administrator/Submitter , Central Securities Depository , Holding Company of Exchange or Clearing House , Credit and Charge Card Licensee , Designated Payment System Operator , Designated Payment System Settlement Institution , Standard Payment Institution , Major Payment Institution , Money-changing Licensee

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.