Clarifications on the requirements under the Exemption Frameworks for cross-border business arrangements of capital markets intermediaries involving Foreign Related Corporations and Foreign Offices.
Notice FAA-N22 on Requirements in relation to Cross-Border Arrangements under the Financial Advisers (Exemption for Cross-Border Arrangements) (Foreign Related Corporations) Regulations 2021
Requirements for licensed financial advisers and specified exempt financial advisers in relation to their cross-border arrangements with Foreign Related Corporations (“FRCs”) under the Financial Advisers (Exemption for Cross-Border Arrangements) (Foreign Related Corporations) Regulations 2021.
This notice applies to
- Licensed financial advisers; and
- Capital markets services licensees, banks, merchant banks, finance companies and insurers
that have entered into cross-border arrangements with their FRCs to provide any financial advisory service (other than advising others by issuing or promulgating research analyses or research reports) under the FAA.
It sets out the ongoing requirements for these Specified Regulated Entities which serve to mitigate the risks from cross-border arrangements with their FRCs.
There are no amendment notes for this notice.