How to qualify to be and conduct your business as a fund manager.
Notice SFA 04-N11 Reporting of Misconduct of Representatives by Holders of Capital Markets Services Licence and Exempt Financial Institutions
How financial institutions should handle and report misconduct of their representatives to MAS.
This notice applies to:
- Capital markets services (CMS) licensees.
- Banks, merchant banks, finance companies and insurers conducting regulated activities under the SFA.
It sets out the responsibilities and reporting requirements of these financial institutions for the misconduct of their representatives, including:
- Scope of reportable misconduct.
- Relevant information to include in the report.
- Conduct of internal investigations and record keeping.
- Disciplinary action to be taken.
- Annual declaration through MASNET if there is no misconduct to report.
There are no amendment notes for this notice.