Notices
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
Issued pursuant to:
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.