Notices
Notice FAA-N23 on Requirements in relation to Cross-Border Arrangements under the Financial Advisers (Exemption for Cross-Border Arrangements) (Foreign Offices) Regulations 2021
Requirements for licensed financial advisers and specified exempt financial advisers in relation to their cross-border arrangements with Foreign Offices (“FOs”) under the Financial Advisers (Exemption for Cross-Border Arrangements) (Foreign Offices) 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 FOs 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 FOs.
Amendment Notes
There are no amendment notes for this notice.
Related to this Notice
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Forms and TemplatesLast Revised Date: 29 September 2022
Form FC – Notification for Change in Particulars to Arrangements with Foreign Related Corporations and/or Foreign Offices notified under the Exemption Regulations
Form for specified capital markets services licensees (“CMSLs”), specified exempt CMSLs, licensed financial advisers and specified exempt financial advisers to notify MAS of their change in particulars to cross-border arrangements notified under the following Exemption Regulations: - Securities and Futures (Exemption for Cross-Border Arrangements) (Foreign Related Corporations) Regulations 2021; - Financial Advisers (Exemption for Cross-Border Arrangements) (Foreign Related Corporations) Regulations 2021; - Securities and Futures (Exemption for Cross-Border Arrangements) (Foreign Offices) Regulations 2021; - Financial Advisers (Exemption for Cross-Border Arrangements) (Foreign Offices) Regulations 2021. This form must be submitted not later than 14 days after the date of the change.
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Forms and TemplatesLast Revised Date: 23 September 2022
Form FR – Annual Declaration for Arrangements with Foreign Related Corporations and/or Foreign Offices notified under the Exemption Regulations
Form for specified capital markets services licensees (“CMSLs”), specified exempt CMSLs, licensed financial advisers and specified exempt financial advisers to submit their annual declaration for cross-border arrangements notified under the following Exemption Regulations: - Securities and Futures (Exemption for Cross-Border Arrangements) (Foreign Related Corporations) Regulations 2021; - Financial Advisers (Exemption for Cross-Border Arrangements) (Foreign Related Corporations) Regulations 2021; - Securities and Futures (Exemption for Cross-Border Arrangements) (Foreign Offices) Regulations 2021; - Financial Advisers (Exemption for Cross-Border Arrangements) (Foreign Offices) Regulations 2021. This form must be submitted not later than 5 months from the end of the financial year.
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Forms and TemplatesLast Revised Date: 23 September 2022
Form FN – Notification for Arrangements with Foreign Related Corporations and/or Foreign Offices under the Exemption Regulations
Form for specified capital markets services licensees (“CMSLs”), specified exempt CMSLs, licensed financial advisers and specified exempt financial advisers to notify MAS of their cross-border arrangements with Foreign Related Corporations or Foreign Offices under the following Exemption Regulations: - Securities and Futures (Exemption for Cross-Border Arrangements) (Foreign Related Corporations) Regulations 2021; - Financial Advisers (Exemption for Cross-Border Arrangements) (Foreign Related Corporations) Regulations 2021; - Securities and Futures (Exemption for Cross-Border Arrangements) (Foreign Offices) Regulations 2021; - Financial Advisers (Exemption for Cross-Border Arrangements) (Foreign Offices) Regulations 2021. This form must be submitted not later than 14 days after the date of commencement of qualifying business under the Exemption Regulations.
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FAQsLast Revised Date: 02 September 2022
FAQs on the Exemption Frameworks for Cross-Border Business Arrangements of Capital Markets Intermediaries involving Foreign Related Corporations and Foreign Offices
Clarifications on the requirements under the Exemption Frameworks for cross-border business arrangements of capital markets intermediaries involving Foreign Related Corporations and Foreign Offices.
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NoticesPublished Date: 08 October 2021
Notice FAA-N25 to Licensed Financial Advisers and Specified Exempt Financial Advisers in relation to Cross-Border Arrangements under the Financial Advisers (Exemption for Cross-Border Arrangements) (Foreign Offices) Regulations 2021 on Prevention of Money Laundering and Countering the Financing of Terrorism
Requirements for licensed financial advisers and specified exempt financial advisers on anti-money laundering and countering the financing of terrorism (“AML/CFT”) in relation to their cross-border arrangements with Foreign Offices (“FOs”) under the Financial Advisers (Exemption for Cross-Border Arrangements) (Foreign Offices) Regulations 2021.
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ConsultationsPublished Date: 15 March 2021
Consultation Paper on Proposed Exemption Framework for Cross-Border Business Arrangements of Capital Markets Intermediaries Involving Foreign Offices
This consultation seeks views on (i) MAS’ proposal to exempt foreign head offices or branches of financial institutions in Singapore from the applicable business conduct and representative notification requirements when they serve Singapore customers; and (ii) proposed notification and annual reporting forms, as well as the draft regulations and notices, for both the proposed Branch Framework and notified FRC framework.
- Consultation number:
- P001-2021
- Start date:
- 15 March 2021
- Closing date:
- 15 April 2021
- MAS response date:
- 08 October 2021