Notice SFA 04-N13 Risk Based Capital Adequacy Requirements for Holders of Capital Markets Services Licences

How to comply with risk based capital adequacy requirements.

Issued pursuant to:

Securities and Futures (Financial and Margin Requirements for Holders of Capital Markets Services Licences) Regulations section 2B , section 5A and section 6 .

Applies to: Dealing in Capital Markets Products , Product Financing , Providing Custodial Services , Licensed Fund Management Company , Corporate Finance Advisory , REIT Management , Securities Crowdfunding

View Notice Notice SFA 04-N13 Risk Based Capital Adequacy Requirements for Holders of Capital Markets Services Licences (1.44 MB)

This notice applies to capital markets services (CMS) licensees, except CMS licensees that are credit rating agencies or venture capital fund managers.

Sets out the methodology for calculation of:

Financial resources or adjusted net head office funds, whichever is applicable; and
Total risk requirements.

08 Oct 2018: Notice SFA04-N13 (Amendment) 2018 (1.47 MB) takes effect.
20 Oct 2017: Notice SFA04-N13 (Amendment) 2017 (149.3 KB) takes effect.
01 Nov 2016: Notice SFA04-N13 (Amendment) 2016 (22.9 KB) takes effect.
06 Mar 2014: Notice SFA04-N13 (Amendment) 2014 (101.7 KB) takes effect.

Guidelines

Last Revised Date: 25 October 2019

Guidelines on Licensing, Registration and Conduct of Business for Fund Management Companies [SFA 04-G05]

How to qualify to be and conduct your business as a fund manager.

Fit and Proper Criteria Key Appointments Capital and Financial Resources Security Deposit and PII Disclosures Investment Management Licensing, Authorisation and Registration
Forms and Templates

Published Date: 08 October 2018

Form 3 - Statement related to the Accounts of a CMS Licence (for submissions after Quarter FY Ended 31 Dec 2018)

Form for capital markets services licensees to submit their audited annual profit and loss accounts to MAS. This form must be submitted within five months from the end of the financial year. This version is for submissions in respect of any quarter or financial year ending after 31 December 2018.

Capital and Financial Resources Financial Returns
Forms and Templates

Published Date: 08 October 2018

Form 8 - Statement of Exposure to Margin Customers

Form for capital markets services licensees providing product financing to provide information on their exposures to margin customers. This form must be submitted within 14 days from the end of each quarter.

Capital and Financial Resources Financial Returns
Forms and Templates

Published Date: 08 October 2018

Form 2 - Statement of Financial Resources, Total Risk Requirement and Aggregate Indebtedness (For Submissions After the Quarter/Financial Year Ended 31 December 2018)

Form for capital markets services licensees to provide a breakdown of their financial resources, total risk requirement and aggregate indebtedness. This form must be submitted within 14 days from the end of each quarter, and within five months from the end of the financial year. This version is for submissions in respect of any quarter or financial year ending after 31 December 2018.

Capital and Financial Resources Financial Returns
FAQs

Published Date: 08 October 2018

FAQs on Lodgement of Financial Returns under the Securities and Futures (Financial and Margin Requirements) Regulations

Provides guidance on the requirements and procedures relating to the lodgement of financial returns by capital markets services licensees.

Capital and Financial Resources Financial Returns
Forms and Templates

Published Date: 08 October 2018

Form 9 - Statement of Exposure to Margined Single Specified Product

Form for capital markets services licensees providing product financing to provide information on their exposures to specified products. This form must be submitted within 14 days from the end of each quarter.

Capital and Financial Resources Financial Returns
Forms and Templates

Published Date: 08 October 2018

Form 4 - Statement relating to the Accounts of a Holder of a Capital Markets Services Licence – Supplementary Information

Form for capital markets services licensees to submit supplementary information on their annual balance sheet and profit and loss accounts. This form must be submitted within five months from the end of the financial year.

Capital and Financial Resources Financial Returns
Forms and Templates

Published Date: 08 October 2018

Form 1 - Statement of Assets and Liabilities (For Submissions After the Quarter/Financial Year Ended 31 December 2018)

Form for capital markets services licensees to provide a breakdown of their assets and liabilities. This form must be submitted within 14 days from the end of each quarter, and within five months from the end of the financial year. This version is for submissions in respect of any quarter or financial year ending after 31 December 2018.

Financial Returns Financial and Margin
Regulations

Last Revised Date: 08 October 2018

Securities And Futures (Financial And Margin Requirements For Holders Of Capital Markets Services Licences) Regulations

Sets out the minimum capital and financial resources, and other financial and margin requirements.

Capital and Financial Resources Financial Returns
Guidelines

Published Date: 08 October 2016

Guidelines on Criteria for the Grant of a Capital Markets Services Licence Other Than for Fund Management and Real Estate Investment Trust Management [SFA 04-G01]

How to qualify to be a CMS licensee (other than a fund manager or REIT manager).

Fit and Proper Criteria Key Appointments Capital and Financial Resources Security Deposit and PII Licensing, Authorisation and Registration
Guidelines

Published Date: 01 January 2016

Guidelines to All Holders of a Capital Markets Services Licence for Real Estate Investment Trust Management [SFA 04-G07]

How to qualify to be a REIT manager and what ongoing governance and compliance arrangements are expected.

Corporate Governance Fit and Proper Criteria Key Appointments Capital and Financial Resources Disclosures Remuneration Licensing, Authorisation and Registration
Forms and Templates

Published Date: 31 December 2013

Form 6 - Auditor’s Certification - For a Holder of a Capital Markets Services Licence

Form for capital markets services licensees to submit their auditor's certifications on their audited financial statement. This form must be submitted within five months from the end of the financial year.

Capital and Financial Resources Financial Returns
Forms and Templates

Published Date: 31 December 2013

Form 5 - Auditor’s Report - For a Holder of a Capital Markets Services Licence

Form for capital markets services licensees to submit their auditor's reports on their businesses. This form must be submitted within five months from the end of the financial year.

Capital and Financial Resources Financial Returns
Consultations

Published Date: 03 April 2012

Consultation Paper On Proposed Revisions to the Regulatory Capital Framework for Holders of Capital Markets Services Licences

Proposal to enhance and align regulatory capital requirements across CMS licenses conducting different regulated activities.

Capital and Financial Resources

Consultation number:

P007 - 2012

Start date:

03 April 2012

Closing date:

03 May 2012

MAS response date:

02 April 2013

Status:

Responded
Guidelines

Published Date: 28 March 2008

Guidelines on the Calculation of Counterparty Risk Requirement for Specified Structured Warrants under Paragraph 3(2) of the Third Schedule to the Securities and Futures (Financial and Margin Requirements for Holders of Capital Markets Services Licences) Regulations [FMR N02]

Specifies how counterparty risk requirements should be computed for specified structured warrants. The guidelines are not applicable to capital computations after 3 April 2015 and financial returns after 1 July 2015.

Capital and Financial Resources
Guidelines

Published Date: 06 November 2007

Guidelines on the Specification of Entities under Sub-paragraph (b)(vi) of the Definition of "Qualifying Deposit" in Paragraph 1(4) of the Second Schedule to the Securities and Futures (Financial and Margin Requirements for Holders of Capital Markets Services Licences) Regulations [FMR N01]

Specify the qualifying deposits from certain entities which are carved out from the computation of counterparty exposure. The guidelines are not applicable to capital computations after 3 April 2015 and financial returns after 1 July 2015.

Capital and Financial Resources Margins
Forms and Templates

Published Date: 20 December 2006

Form 1 - Statement of Assets and Liabilities (For Submissions Until the Quarter/Financial Year Ended 31 December 2018)

Form for capital markets services licensees to provide a breakdown of their assets and liabilities. The form must be submitted within 14 days from the end of each quarter, and within five months from the end of the financial year. This version is for submissions in respect of any quarter or financial year ending before or on 31 December 2018.

Financial Returns Financial and Margin
Forms and Templates

Published Date: 20 December 2006

Form 3 - Statement relating to the Accounts of a Holder of a Capital Markets Services Licence (For Submissions Until the Quarter/Financial Year Ended 31 December 2018)

Form for capital markets services licensees to submit their audited annual profit and loss accounts to MAS. This form must be submitted within five months from the end of the financial year. This version is for submissions in respect of any quarter or financial year ending before or on 31 December 2018.

Capital and Financial Resources Financial Returns
Forms and Templates

Published Date: 20 December 2006

Form 2 - Statement of Financial Resources, Total Risk Requirement and Aggregate Indebtedness (For Submissions Until the Quarter/Financial Year Ended 31 December 2018)

Form for capital markets services licensees to provide a breakdown of their financial resources, total risk requirement and aggregate indebtedness. This form must be submitted within 14 days from the end of each quarter, and within five months from the end of the financial year. This version is for submissions in respect of any quarter or financial year ending before or on 31 December 2018.

Capital and Financial Resources Financial Returns
Forms and Templates

Published Date: 09 June 2005

Form 7 - Statement of Aggregate Margin Exposure to Single Approved Exchange

Form for capital markets services licensees providing product financing to provide information on margin exposures to various approved exchanges. This form must be submitted within 14 days from the end of each quarter.

Capital and Financial Resources Financial Returns