Guidelines
 Published Date: 06 March 2014

Guidelines on the Application of Section 339 (Extra-Territoriality) of the Securities and Futures Act [SFA 15-G01]

Sets out when acts carried out outside Singapore are still subject to the Securities and Futures Act (SFA).
Applies to: Dealing in Capital Markets Products , Product Financing , Providing Custodial Services , Licensed Fund Management Company , Corporate Finance Advisory , REIT Management , Credit Rating Agency , Securities Crowdfunding , Exempt Capital Markets Services Entity , Venture Capital Fund Management Company , Registered Fund Management Company , Exempt Corporate Finance Adviser Serving Accredited Investors , Exempt Futures Broker , Exempt OTC Derivatives Broker , Markets and Exchanges , Clearing House , OTC Counterparties , Trade Repository
View Document Guidelines on the Application of Section 339 (Extra-Territoriality) of the Securities and Futures Act [SFA 15-G01] (338 KB)

These guidelines set out the general principles behind MAS' policy stance on the scope and application of the extra-territorial effect of the SFA in relation to cross-border activities. It applies to the conduct of all regulated activities under the SFA.

They include:
  • Background on section 339.
  • Elaboration of intent and scope of section 339.
  • General principles on the non-applicability of section 339(2).
  • Illustrations on the applicability of section 339.