Notice SFA 04-N12 Sale of Investment Products
Sets out requirements to conduct additional customer reviews or assessments for customers investing in specified investment products
Securities and Futures Act (Cap. 289) section 101 and section 293
This notice applies to:
- Capital markets services (CMS) licensees.
- Banks, merchant banks and finance companies conducting regulated activities under the SFA.
- Representatives of these financial institutions.
- The corporation or manager for collective investment schemes.
It sets out requirements for:
- Conducting a Customer Account Review before opening an account for a customer to transact in listed specified investment products.
- Conducting a Customer Knowledge Assessment before transacting in unlisted specified investment products for a customer.
- Documentation and record keeping.
Amendment Notes
- 05 Oct 2018
- Notice SFA04 -N12 (Amendment No. 2) 2018 (663.3 KB) takes effect.
- 06 Jul 2018
- Notice SFA04 -N12 (Amendment) 2018 (464.9 KB) takes effect.
- 29 Apr 2015
- Notice SFA04-N12 (Amendment) 2015 (77.2 KB) takes effect.
- 11 Dec 2012
- Notice SFA04-N12 (Amendment) 2012 (249.8 KB) takes effect.
- 01 Jan 2012
- Notice SFA04 -N12 (Amendment) 2011 takes effect.
Related to this Notice
-
ConsultationsPublished Date: 03 June 2015
Consultation Paper on Regulatory Framework for Intermediaries Dealing in OTC Derivative Contracts, Execution-Related Advice, and Marketing of Collective Investment Scheme
Covered three proposals: (i) Regulatory framework for capital markets services licensees, banks, merchant banks and finance companies dealing in OTC derivative contracts under the SFA, including capital, business conduct and other requirements; (ii) exemption for execution-related advice on listed excluded investment products under the FAA; and (iii) transferring the regulation of marketing of CIS from the FAA to SFA.
- Consultation number:
- P009-2015
- Start date:
- 03 June 2015
- Closing date:
- 03 July 2015
- MAS response date:
- 29 December 2015
-
ConsultationsPublished Date: 21 July 2014
Consultation Paper on Proposals to Enhance Regulatory Safeguards for Investors in the Capital Markets
- Consultation number:
- P012 - 2014
- Start date:
- 21 July 2014
- Closing date:
- 01 September 2014
- MAS response date:
- 22 September 2015
-
Practice NotesPublished Date: 11 December 2012
Practice Note on the Sale of Investment Products [SFA PN-01]
Provides guidance on customer account review and customer knowledge assessment requirements when dealing in specified investment products with retail customers.